My partner and I are planning to buy a house in Treuddyn and are in fact using a Treuddyn conveyancing firm. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Virgin Money have this afternoon contacted us to advise us that they have now hit a problem as our Treuddyn lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent the purchaser's lender. 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 Quality Scheme. Your solicitor should contact your bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Treuddyn solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We were just about to exchange contracts for a semi detached house in Treuddyn. We encountered a snag. Our mortgage offer with Aldermore expires on 5/11/2024 but the sellers are putting forward a completion date of 7/11/2024. Is it possible to extend the loan offer?
The person best placed to deal with your concern is your lawyer who should determine whether he or she is better off negotiating with the mortgage broker, owner’s solicitors, property agents or indeed all parties taking into account the circumstances your transaction to date.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who did the conveyancing in Treuddyn 4 years ago are no longer around. What are my options?
Gone are the days when you need to have the physical original deeds to evidence that you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Treuddyn. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Treuddyn
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared.
In what way does the Landlord & Tenant Act 1954 affect my commercial premises in Treuddyn and how can you help?
The 1954 Act gives protection to business lessees, granting the legal entitlement to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Treuddyn
I am hoping to complete next month on a ground floor flat in Treuddyn. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Treuddyn should include some of the following:
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Whether the lease restricts you from subletting the flat, or working from home An explanation as to the provision as set out in the lease to to contribute towards maintenance costs - with regard to both the building, and the more general rights a leaseholder enjoys Whether your lease has a provision for a slush fund? Additions to the flat
I bought a split level flat in Treuddyn, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Treuddyn with a long lease are worth £221,000. The ground rent is £50 invoiced annually. The lease ceases on 21st October 2094
You have 70 years left to run we estimate the price of your lease extension to be between £9,500 and £11,000 as well as costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.