I am selling my maisonette in Criccieth and the estate agent has just e-mailed to say that the purchasers are swapping property lawyer. I am told that this is due to the fact that the lender will only engage with solicitors on their approved list. On what basis would a major lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Criccieth ?
Mortgage companies have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
Can you recommend a Bank of Scotland sanctioned Criccieth conveyancing conveyancer finish our home move within 10 days? Would it be better to use a local Criccieth practice or a national comparison site?
We can recommend some very good Criccieth conveyancing firms. You can also walk up the main road in Criccieth. Approach some well established firms and request to see a conveyancing solicitor for a fee estimate. Mention your expectations together with the reasons and get a commitment on speed. Select the lawyer that you trust.
We are purchasing a house in Criccieth. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send our life savings into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Criccieth
There are many registered licenced Conveyancers in Criccieth and Solicitor partnerships in Criccieth who provide Conveyancing services It is important to make clear that both are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. They may both also handle associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it the case that all Criccieth CQS (Conveyancing Quality Scheme) solicitors are on the Nottingham conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
3 months have elapsed since my purchase conveyancing in Criccieth took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. 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 property 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.
Last April I purchased a leasehold house in Criccieth. Do I have any liability for service charges relating to a period prior to my ownership?
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. Strange as it may seem, 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 be sure 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).
I inherited a 1 bedroom flat in Criccieth, conveyancing was carried out in 2001. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Criccieth with over 90 years remaining are worth £201,000. The average or mid-range amount of ground rent is £45 per annum. The lease ceases on 21st October 2090
You have 65 years left to run we estimate the premium for your lease extension to range between £13,300 and £15,400 as well as costs.
The figure above a general guide to costs for renewing 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 are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
I am buying a house and require a conveyancing solicitor in Criccieth who is on the mortgage company solicitor panel. Can you recommend a Criccieth or local Criccieth conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the mortgage company who carry out conveyancing in Criccieth. We dont recommend any particular conveyancing practice.