It has come to my attention via my mortgage broker that my Rowen property lawyer is not on the bank Solicitor panel. How can I be certain if this is indeed the case?
Your first step should be to call your Rowen conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
Why do I have to pay up front when it comes to conveyancing in Rowen?
If you are buying a property in Rowen your solicitor will request that you put them with monies to cover the search fees. Ordinarily this is requested to cover the fees of the conveyancing searches. If any deposit is as part of the total price then this should be asked for immediately ahead of contracts are exchanged. Any further balance that is needed will be payable a couple of days prior to the completion date.
How does conveyancing in Rowen differ for newly converted properties?
Most buyers of new build property in Rowen approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Rowen tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Rowen or who has acted in the same development.
I decided to have a survey carried out on a house in Rowen before retaining conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor advised that some lenders tend not issue a mortgage on such a premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you contact us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Rowen. Conveyancing will be smoother if you use a solicitor in Rowen especially if they regularly deal with such properties in Rowen.
Estate agents have just been given the go-ahead to market my 2 bed flat in Rowen. Conveyancing is yet to be initiated, however I have just received a half-yearly service charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as you normally would because all rents and service invoices will be apportioned on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I purchased a split level flat in Rowen, conveyancing formalities finalised 3 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Rowen with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease expires on 21st October 2078
With just 53 years unexpired the likely cost is going to range between £27,600 and £31,800 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional 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 without first getting professional advice.
I yesterday become aware that one of the partners of the firm undertaking the purchase conveyancing in Rowen is related to the seller. Is this permitted?
As long as there is no conflict of interest this is permitted. Where you are obtaining mortgage finance then the lender may have a say as many mortgage companies have specific instructions on this. For example for Clydesdale Bank as of 4/5/2025, the requirements read as follows :