Me and my fiance are buying a maisonette in Arthog. My lawyer is not on the mortgage company conveyancing panel. Am I still permitted to continue with my Arthog conveyancing solicitor even though they are excluded from the bank panel?
Various options include
- Proceed with your existing Arthog conveyancing practitioner but your lender will need to instruct a property lawyer on their approved list. This will result in additional fees and potential delay.
- Choose a new lawyer to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Appeal to your lawyer to apply to join the lender panel
I own a freehold house in Arthog but still pay rent, why is this and what is this?
It is rare for properties in Arthog and has limited impact for conveyancing in Arthog but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
A colleague advised me that in buying a property in Arthog there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Arthog which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Arthog should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you point me to a directory of TSB panel conveyancers in Arthog on the Council of Mortgage Lender’s Website?
No. There is no such tool on the CML or Building Society Association websites. Very few banks make their panel listings viewable over the internet. If you are in need of a Arthog solicitor on the TSB please use our tool.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Arthog solicitor - who is on the Coventry BS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Coventry BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Coventry BS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Arthog surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Have completed on a a semi-detached house in Arthog , What is the estimated time for the Land Registry to record the transfer to my name? My Arthog conveyancing solicitor works at snail pace, so I want to check that my name is recorded.
There is nothing unique about conveyancing in Arthog registration formalities. Rather than based on location, timescales can adjust subject to the party submitting the application, whether there are errors and if the Land registry have to notify any other parties. At present roughly three quarters of submission are completed within two weeks but some can be subject to protracted hold-ups. Registration is effected after the purchaser is living at the premises so 'speed' is not always an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor can contact the land registry and explain the circumstances.
Over the last few months I have been searching for a flat up to £195,000 and found one round the corner in Arthog I like with amenity areas and station in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Arthog for this price, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the remaining unexpired lease term will be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
My lender have just issued us with a mortgage offer. We are using a reputable conveyancer in Arthog yesterday. A couple of hours ago, our mortgage adviser called to say that the mortgage company said that we cannot use our solicitor as they aren't on their panel. As novices, we did not have a clue that the bank had some control over our choice Is this allowed?
You can actually instruct any property lawyer you prefer to select including the said conveyancer in Arthog but if your lender aren't happy with them you would have to pay additional cost so your bank can instruct their own solicitors as well to protect their interest. sometimes it is conceivable that your solicitor may apply to get included on to the bank panel. Do make the most of web-based search facilities such as lenderpanel.com to find a conveyancing solcitor in Arthog on the mortgage company panel. You can go into your high street mortgage company branch in Arthog. They will know some good conveyancing solicitors in Arthog on the lender panel.