We're in Lampeter, First timers buying with a mortgage (lender is RBS , and our lawyer is on the RBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the RBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Last month we had a mortgage agreed in principle with Lloyds. Lampeter conveyancing lawyers were appointed. What is the average time that one could expect to receive a mortgage offer from Lloyds?
Some lenders take longer than others. Have Lloyds done the valuation? Have you advised Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My fiancee and I are at the point of looking at houses in Lampeter and I am now considering a potential offer. Should I already have a solicitor appointed at this stage? I am planning to take a home loan with Santander.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the estate agent. As you are seeking a mortgage with Santander, ask your prospective lawyers if they are on the Santander conveyancing panel otherwise they can't do the mortgage legal work.
The formalities of my purchase has taken place for my property in Lampeter. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I am buying a new build flat in Lampeter. Conveyancing is a frightening process 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 selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Lampeter
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Lampeter is where the house is located. What do you suggest?
Flying freeholds in Lampeter are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lampeter you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lampeter may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm converting the mortgage on my existing property to a BTL mortgage with Nottingham Building Society and intend to use the remaining equity towards a second house. The neighborhood we are interested in is Lampeter. Will your solicitors be able to act for both sets of lenders and tie in the conveyances?
Do use our comparison tool on this site to be sure that the solicitors are on the relevant lender panels. Assuming that they are your conveyancer will be able to tie up the two transactions but you should talk with you conveyancer and communicate your desired outcome and requirements.
We expect to complete the disposal of our £325,000 apartment in Lampeter in just under a week. The landlords agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Lampeter?
Lampeter conveyancing on leasehold apartments normally requires the buyer’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to address such questions most will be content to assist. They are at liberty to levy a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee levied by the landlord must be sent together with a summary of rights and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Lampeter Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Is the freehold owned collectively by the tenants? Does the lease include onerous restrictions?