We chose a local solicitor for our conveyancing in Tregaron yesterday. Going through the Terms it is apparent thatI am liable for costs even if the sale doesn't happen. Should I ditch them and instruct a web based conveyancing company advertising no completion no cost conveyancing in Tregaron?
Generally there is a compromise along the lines that if "No Sale No Fee" is available then the fee levels will tend to be be higher to counteract the transactions that abort. Also remember that such offerings rarely cover expenses by way of example Tregaron conveyancing search costs.
I am selling my flat in Tregaron. Does the lawyer need to be on the Bank of Ireland conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Bank of Ireland conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
Is it the case that all Tregaron CQS (Conveyancing Quality Scheme) solicitors are on the Bank of Ireland conveyancing panel?
Some major lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
is it true that all Tregaron solicitor firms on the Yorkshire BS conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some mortgage companies do list licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
Two weeks ago we had a mortgage agreed in principle with TSB. Tregaron conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from TSB?
There is no definitive answer here. Have TSB done the survey? Have you advised TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It has been 3 months following my purchase conveyancing in Tregaron concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 property 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.
I own a leasehold house in Tregaron. Conveyancing and Barnsley Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1998. The conveyancing practitioner in Tregaron who previously acted has long since retired. What should I do?
The first thing you should do is contact the Land Registry to make sure that this person is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Tregaron conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a studio flat in Tregaron, conveyancing having been completed August 2001. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Tregaron with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 levied per year. The lease finishes on 21st October 2094
With 70 years unexpired we estimate the premium for your lease extension to range between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously 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 happen to be an executor of my recently deceased aunt’s Will, with a house in Tregaron which is to be marketed. The property has never been registered at HMLR and I'm advised that some EAs will insist that it is done before they will proceed. What's the mechanism for this?
In the circumstances you refer to it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.