Am I correct in assuming that the fact that my solicitor in Wickersley is not on my lender's conveyancing panel that there is a problem with the standard of his conveyancing?
That would more than likely be a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Wickersley conveyancing firm and ask them why they are no longer on the approved list for your lender.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Wickersley conveyancing practitioner on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Wickersley. I have a mortgage offer with Principality. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Clydesdale have agreed my home loan in principle, my bid on a house in Wickersley has been agreed to, what happens next?
The property agent will want to know who your solicitors are (ensure that the property lawyers are on the bank’s panel). Telephone Clydesdale or your financial adviser and complete any outstanding forms. Clydesdale will appoint a valuer who will get in touch with the estate agent or seller to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Clydesdale will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Wickersley.
four months have elapsed following my purchase conveyancing in Wickersley took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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 premises 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.
How does conveyancing in Wickersley differ for newly converted properties?
Most buyers of new build residence in Wickersley come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Wickersley typically acquire 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 used to new build conveyancing in Wickersley or who has acted in the same development.
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Wickersley. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Wickersley ?
Most houses in Wickersley are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. We note that you are buying in Wickersley in which case you should be shopping around for a Wickersley conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as requiring the landlord’sconsent to carry out changes to the property. It may be necessary to pay a service charge towards the maintenance of the estate where the house is part of an estate. Your lawyer should advise you fully on all the issues.
Wickersley Leasehold Conveyancing - Sample of Queries before Purchasing
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Most Wickersley leasehold properties will be liable to pay a service bill for the upkeep of the block levied on behalf of the landlord. Where you purchase the flat you will have to pay this contribution, usually quarterly accross the year. This could differ from a few hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a rentcharge for you to pay yearly, normally this is not a exorbitant amount, say around £25-£75 but you should to check it because sometimes it could be many hundreds of pounds. The answer will be important as a) areas may cause problems for the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have a dispute with the running of the building you will want to know about it You should be aware that where the lease has no more than 80 years it will have adverse implications on the value of the apartment. It is worth checking with your lender that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and you need to have some idea of how much this would cost. For most Wickersleylease extensions you would need to own the residence for two years before you are legally able to extend the lease.
Are the Wickersley conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the lender?
Wickersley law firm practices and firms carrying out conveyancing in Wickersley themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.