My husband and I are hoping to buy a property in Llandyrnog and are in fact using a Llandyrnog conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this evening contacted us to inform me that they have now hit a problem as our Llandyrnog conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors 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 mortgage company 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 lender’s conveyancing panel and you may continue to use your own Llandyrnog solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
The Llandyrnog conveyancing firm that I appointed last week on my purchase in Llandyrnog have without warning closed. I chose them because I had to have a lawyer on the Barclays conveyancing panel and my previous Llandyrnog lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Llandyrnog is the location of the property. Can you offer any advice?
Flying freeholds in Llandyrnog are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Llandyrnog you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llandyrnog may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
As co-executor for the will of my grandmother I am disposing of a property in Neath but reside in Llandyrnog. My lawyer (approximately 260 kilometers from mehas requested that I execute a statutory declaration ahead of completion. Could you suggest a conveyancing practitioner in Llandyrnog who can witness this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Llandyrnog based
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a reasonable figure which is making it more attractive. I have since been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a house with a leasehold title in Llandyrnog. Conveyancing advisers have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Llandyrnog ?
Most houses in Llandyrnog are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. We note that you are buying in Llandyrnog so you should seriously consider looking for a Llandyrnog conveyancing solicitor and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. It may be necessary to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer will report to you on the legal implications.
I own a basement flat in Llandyrnog, conveyancing formalities finalised half a dozen 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? Corresponding properties in Llandyrnog with over 90 years remaining are worth £202,000. The ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2083
With just 57 years left to run we estimate the price of your lease extension to be between £28,500 and £33,000 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 advice on a more accurate figure without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.
I acquired a property in Llandyrnog last 19/11/2024 and to date it is still not recorded with HM Land Registry. It was part of a development site and my property lawyer told me that it can take 12 months to register. I have contacted the Land Registry directly and they say that the initial application was cancelled due to questions not being addressed in time. What can I do?
It is your conveyancing practitioner that you must contact in order to satisfy any questions which have been raised as part of the registration process for your Llandyrnog property. Normal Llandyrnog conveyancing practice includes an undertaking on the part of the seller's lawyer that they will assist in resolving any question raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.