Am I correct in assuming that the fact that my conveyancer in Llandough is not on my mortgage company's solicitor panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% 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 simply call the Llandough conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Why is leasehold purchase conveyancing in Llandough is more expensive?
The conveyancing costs on a leasehold premises in Llandough is often more expensive when contrasted to a freehold acquisition or disposal. This is because there is an amount of extra work necessary in corresponding with the freeholder and management company to obtain information concerning whether the rent and maintenance charges have been cleared and whether there are any major works due in the foreseeable future on repairs or maintenance of the block.
There are plenty of conveyancing solicitors in Llandough but how do I know who's good?
It would be unwise to be seduced by the lowest Llandough conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
is it true that all Llandough solicitor firms on the Barclays conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
Yorkshire BS have agreed my mortgage in principle, my bid on a property in Llandough has been accepted, what happens next?
Your property agent will wish to know who your solicitors are (be sure the property lawyers are on the bank’s panel). Contact Yorkshire BS or your broker and complete any appropriate forms. Yorkshire BS will appoint a valuer who will get in contact with the estate agent or owners to arrange an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Yorkshire BS will issue the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Llandough.
The estate agent has sent us the confirmation of our purchase of a new build flat in Llandough. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Llandough
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Please confirm the Lease plans are architect prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I have just appointed agents to market my ground floor apartment in Llandough. Conveyancing is yet to be initiated, but I have just received a quarterly maintenance charge demand – what should I do?
The sensible thing to do is clear the maintenance contribution as usual given that all rents and maintenance charges will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies 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. Having a clear account will assist your cause and will leave you no worse off financially.
I own a 1st floor flat in Llandough, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Llandough with over 90 years remaining are worth £211,000. The ground rent is £50 charged once a year. The lease terminates on 21st October 2093
With only 68 years left to run we estimate the premium for your lease extension to range between £9,500 and £11,000 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.
Much to my surprise my property lawyer in Llandough is asking me for personal identification documents saying that this forms part of his retainer as a solicitor on the mortgage company Solicitor panel. Can you confirm whether this is the case?
Due to Money Laundering Regulations your conveyancing lawyer is duty bound to confirm positively your identification when entering into a business relationship with you. It is a criminal offence if your lawyer not do this. If you do not provide ID early in the transaction the solicitor must refuse to act for you. It’s unlikely a lawyer will turn you away if you come to the first meeting without relevant ID but you will have to produce it at some point so you might as well bring it with you to the initial meeting so the lawyer can tick the ID verification box and start sorting out the conveyancing straight away. If you are getting a mortgage, your lawyer also has to check ID documents to satisfy the lender. This is not specific to conveyancing in Llandough