Our Kilgetty lawyer has spotted an inconsistency between the surveyor’s assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he is obliged to check that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Having sold my house in Kilgetty last January but the buyer keeps calling daily to say her solicitor is waiting to hear from mine. What should have happened now that I have sold?
Following your disposal your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer should also confirm that the home loan has been repaid to the purchasers solicitors. There is unlikely to be post completion tasks unique to conveyancing in Kilgetty.
I have just over seventy years remaining on my lease and need a lease extension for my apartment in Kilgetty. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions correct?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 26/12/2024 the requirements read as follows :
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Kilgetty?
Two types of professional can execute conveyancing in Kilgetty namely CLC regulated conveyancers or solicitors. Both professionals handle conveyancing services that required to complete the disposal or purchase of property. Both are obliged to perform Kilgetty conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be properly conducted and that the requisite procedures will be correctly attended to.
I had a mortgage agreed in principle with HSBC. Kilgetty conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from HSBC?
There is no definitive answer here. Have HSBC done the survey? Have you informed HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am expecting a OIP from HSBC this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do HSBC recommend any Kilgetty solicitors on the HSBC conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Kilgetty solicitors independently although you'll need to choose one on the HSBC conveyancing panel. The solicitor represents both you and HSBC through the process.
Various internet forums that I have visited warn that are the number one reason for delay in Kilgetty conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Kilgetty.
Back In 2001, I bought a leasehold flat in Kilgetty. Conveyancing and The Mortgage Works mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1995. The conveyancing solicitor in Kilgetty who previously acted has long since retired. Any advice?
The first thing you should do is make enquiries of the Land Registry to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to incur the fees of a Kilgetty conveyancing firm to do this as it can be done on-line for £3. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 1 bedroom flat in Kilgetty, conveyancing formalities finalised 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Kilgetty with over 90 years remaining are worth £180,000. The ground rent is £65 invoiced annually. The lease comes to an end on 21st October 2082
With just 58 years unexpired we estimate the price of your lease extension to range between £22,800 and £26,400 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns 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 without first seeking the advice of a professional.