The Rowen conveyancing firm handling our Rowen conveyancing has uncovered a discrepancy when comparing the assumptions in the valuation report and what is in the title deeds. My lawyer informs me that he needs to check that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I am purchasing a property and require a conveyancing solicitor in Rowen who is on the Nationwide Building Society conveyancing. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nationwide Building Society in certain locations such as Rowen. We dont recommend any particular firm.
My aunt pointed out to me me that in purchasing a property in Rowen there may be a number of restrictions affecting the ability to carry out external changes to the property. Is this right?
There are anumerous of properties in Rowen which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Rowen should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Clydesdale. I assume I don't need a Rowen solicitor on the Clydesdale panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Clydesdale mortgage from the register. Clydesdale, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
The mortgage over my property is with Yorkshire BS for my property in Rowen. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
Your original mortgage agreement with Yorkshire BS will provide that you need their approval prior to letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. You need not do this via a Yorkshire BS conveyancing panel solicitor.
It has been three months following my purchase conveyancing in Rowen concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
We're FTB’s - agreed a price, yet the estate agent informed us that the owners will only issue a contract if we use the agent's recommended conveyancers as they need an ‘expedited deal’. We would rather use a family conveyancer who is familiar with conveyancing in Rowen
It is improbable the sellers are driving this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a serious buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are serious buyers (b)you are ready to progress, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you are going to use your preferred Rowen conveyancing firm - not the ones that will provide their estate agent a commission or hit his conveyancing targets demanded by head office.
I work for a long established estate agency in Rowen where we have experienced a few leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Rowen conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Rowen Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
It is important to be aware whether fixing the lift or some other significant cost is anticipated that will be shared amongst the leaseholders and could well dramatically impact the level of the service charges or require a one off invoice. If a Rowen lease has fewer than 80 years it will have adverse implications on the salability of the flat. It is worth checking with your lender that they are content with the length of the lease. A short lease means that you will probably require a lease extension sooner rather than later and you need to have some idea of what this will be. For most Rowenlease extensions you would need to own the property for a couple of years in order to be eligible to extend the lease. The answer will be useful as a) areas may result in problems in the building as the common areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will want to have complete disclosure