I am selling my apartment in Glyn Ceiriog and the estate agent has just telephoned to say that the buyers are swapping property lawyer. The excuse is that the bank will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Glyn Ceiriog ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions attribute this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose 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. Plenty of firms 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 purchasers are unlikely to have any impact on this.
I am helping my niece sell her flat in Glyn Ceiriog. Will the solicitor commission the EPC or should I organise this?
Following the demise of Home Packs, EPC’s became a mandatory element of selling a property. An energy performance certificate should be commissioned before the property is advertised. It is not a task that law firms ordinarily organise. If you are using a Glyn Ceiriog conveyancing lawyer they may help arrange EPC’s due to their relationships with reputable Glyn Ceiriog providers
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Glyn Ceiriog solicitor on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Glyn Ceiriog solicitor - who is on the Kent Reliance conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Kent Reliance will need an independent valuation of the property. Your lawyer will not arrange this. Usually Kent Reliance 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 Glyn Ceiriog 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.
A colleague recommended that where I am buying in Glyn Ceiriog I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Glyn Ceiriog conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Glyn Ceiriog around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Glyn Ceiriog Education with plans and statistics, Local Amenities and other useful information regarding Glyn Ceiriog.
Me and my brother purchased a terraced Edwardian property in Glyn Ceiriog. Conveyancing solicitor acted for me and Birmingham Midshires. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Glyn Ceiriog and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
In scouring the world wide web for the term cheap conveyancing in Glyn Ceiriog it shows results of many property lawyersin the vicinity. With so much choice what is the best way to find the suitable solicitor for the sale of my house?
The ideal way of finding the right conveyancer is via personal recommendation, so enquire of friends and family who have purchased a property in Glyn Ceiriog or a reputable estate agent or mortgage broker. Fees for conveyancing in Glyn Ceiriog vary, so it's advisable to request at least four costs illustrations from different law firms. Make sure that you know what costs in the quote includes.
I have just appointed agents to market my garden apartment in Glyn Ceiriog. Conveyancing has not commenced, however I have just had a yearly maintenance charge demand – what should I do?
The sensible thing to do is discharge the service charge as you normally would given that all ground rent and service invoices should be allotted as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a ground floor flat in Glyn Ceiriog, conveyancing was carried out 8 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Glyn Ceiriog with an extended lease are worth £186,000. The ground rent is £55 invoiced every year. The lease comes to an end on 21st October 2077
You have 52 years left to run we estimate the premium for your lease extension to span between £29,500 and £34,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.