Am I correct in assuming that the fact that my solicitor in Caerleon is not on my lender's solicitor panel that there is a problem with the quality of his conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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. Where you are concerned you should contact the Caerleon conveyancing firm and ask them why they are no longer on the approved list for your lender.
Are the BSA intent on creating a search tool with a view to to identify firms on the Loughborough BS conveyancing panel for instance in Caerleon?
We have not been informed any plans on the part of the BSA to promote such a register.
I have justdiscovered that Wolstenholmes have been shut down. They conducted my conveyancing in Caerleon for a purchase of a leasehold flat 9 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Caerleon conveyancing specialists.
How does conveyancing in Caerleon differ for newly converted properties?
Most buyers of new build property in Caerleon approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Caerleon tend to buy the land, 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 property lawyers 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 accustomed to new build conveyancing in Caerleon or who has acted in the same development.
I opted to have a survey completed on a house in Caerleon ahead of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks may not grant a mortgage on such a home.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. If you contact us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Caerleon. Conveyancing will be smoother if you use a solicitor in Caerleon especially if they regularly deal with such properties in Caerleon.
I've recently bought a leasehold house in Caerleon. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Caerleon Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Be sure to enquire if the the lease contains any adverse restrictions in the lease. By way of example it is reasonably common in Caerleon leases that pets are not allowed in in a block in Caerleon. If you love the flatin Caerleon however your cat is not allowed to make the move with you then you have a very difficult determination. Many Caerleon leasehold apartments will have a service charge for maintenance of the building set by the landlord. Where you acquire the flat you will have to meet this liability, usually periodically accross the year. This may be anything from a few hundred pounds to thousands of pounds for bigger purpose-built buildings. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant sum, say around £25-£75 but you should to check it because sometimes it can be many hundreds of pounds. Best to be warned whether redecorating or some other significant cost is coming up to be shared by the tenants and will materially increase the the service charges or result in a specific payment.