My wife and I are planning to purchase a property in Rowen and are in fact using a Rowen conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Barclays have this morning contacted us to advise us that they have now hit a problem as our Rowen solicitor is not on their conveyancing panel. Please explain?
Where you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Rowen lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Last August we completed a house move in Rowen. We have noticed several problems with the house which we consider were overlooked in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been carried out as part of conveyancing in Rowen?
The question is vague as what problems have arisen and if they are relate to conveyancing in Rowen. Conveyancing searches and investigations initiated during the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a seller fills in a document known as a SPIF. If the information turns out to be misleading, then you may have a claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Rowen.
Me and my brother own a renovated Victorian house in Rowen. Conveyancing lawyer acted for me and Chelsea Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rowen and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing practitioner who carried out the work.
Hoping to buy a property located in Rowen and I am already nervous. I couldn't find anything specific about Rowen. Conveyancing will be needed in due course but do you know about the Rowen area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Rowen. In the meantime here are some basic statistics that we found
Can you offer any advice when it comes to finding a Rowen conveyancing practice to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Rowen conveyancing firm) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with several firms including non Rowen conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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How familiar is the practice with lease extension legislation?
I inherited a basement flat in Rowen, conveyancing having been completed in 2011. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Rowen with an extended lease are worth £260,000. The ground rent is £45 charged once a year. The lease finishes on 21st October 2099
With only 74 years remaining on your lease we estimate the price of your lease extension to span between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.
Are all Rowen law firms on every bank conveyancing panel?
You can use our search tool or you can go into your local lender branch in Rowen. the probability is that they will be in a position to suggest some approved conveyancing solicitors in Rowen