My fiance and I are hoping to purchase a home in Ceredigion and are in fact using a Ceredigion conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Santander have this morning contacted us to inform me that they have now hit a problem as our Ceredigion lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers to also act for the mortgage company. 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 Accreditation Scheme. Your property lawyer 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Ceredigion lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My fiancee and I are buying our first home. The property lawyer has e-mailedto enquire if we would like to purchase additional conveyancing searches. We are really unsure what's recommended for conveyancing in Ceredigion
The extent of Ceredigion conveyancing searches should be triggered based primarily on the premises, the location, the possibility of any of these risks, your knowledge of the region and risks, your general attitude to risk. What matters is that you properly understand what information the searches could provide. Then you can make a decision if you consider that you need that search. Should you be in doubt, ask your lawyer to advise.
My brother-in-law has suggested I instruct a conveyancing solicitor in Ceredigion. I I would like to check if they are on the Leeds Building Society approved list of lawyers. Could you assist?
The first thing to do is phone your conveyancer and ask them whether they can act for the lender. Alternatively you should get in touch with Leeds Building Society who may be able to confirm.
I'm buying a new build house in Ceredigion with a mortgage from Godiva Mortgages Ltd. The sellers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not reveal to my solicitor about the side-deal as it could affect my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I need to instruct a conveyancing solicitor for my conveyancing in Ceredigion. I happened to chance upon a site which looks to be the perfect solution If it is possible to get all this stuff done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I have recently realised that I have 62 years unexpired on my lease in Ceredigion. I am keen to get lease extension but my freeholder is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the Court. You will be obliged to prove that you or your lawyers have done all that could be expected to track down the lessor. In some cases an enquiry agent should be helpful to carry out a search and to produce a report to be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Ceredigion.
I inherited a leasehold flat in Ceredigion, conveyancing having been completed in 2002. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Ceredigion with a long lease are worth £201,000. The ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2089
With only 64 years left to run we estimate the price of your lease extension to range between £15,200 and £17,600 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.