It has come to my attention via my mortgage adviser that my Llanfechain property lawyer is not on the lender Conveyancing panel. What can I do to be sure if this is correct?
The first thing you need to do is to contact your Llanfechain lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your lender.
I had a mortgage agreed in principle with Barclays. Llanfechain conveyancing lawyers have been appointed. How long does it take for Barclays to send the offer to the lawyer?
There is no definitive answer here. Have Barclays completed the valuation? Have you advised Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Coventry BS. I assume I don't need a Llanfechain conveyancer on the Coventry BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Coventry BS 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 Coventry BS mortgage from the register. Coventry BS, 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 Coventry BS has sent the Land Registry the discharge electronically, and
- Coventry BS has instructed the Land Registry to do so
The mortgage over my property is with Virgin Money for my property in Llanfechain. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Virgin Money?
Virgin Money must be informed of your intention before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
We are selling our house in Llanfechain and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers are using an internet conveyancing firm as opposed to a conveyancing solicitor in Llanfechain. Having lived in Llanfechain for 5 years we know of no issue. Do we get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing lawyer already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Llanfechain differ for newly converted properties?
Most buyers of new build property in Llanfechain approach us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Llanfechain tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Llanfechain or who has acted in the same development.
Having checked my lease I have discovered that there are only 72 years remaining on my lease in Llanfechain. I now wish to extend my lease but my freeholder is can not be found. What should I do?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. For most situations a specialist would be useful to conduct investigations and to produce an expert document which can be accepted by the court as proof that the landlord is indeed missing. It is wise to seek advice from a property lawyer in relation to investigating the landlord’s absence and the application to the County Court overseeing Llanfechain.
I am the registered owner of a basement flat in Llanfechain, conveyancing having been completed in 2007. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Llanfechain with a long lease are worth £175,000. The ground rent is £65 levied per year. The lease ceases on 21st October 2083
With 58 years remaining on your lease the likely cost is going to span between £23,800 and £27,400 plus professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
My financial adviser has suggested using their conveyancer for the conveyancing in Llanfechain - Is it not simpler advisable to just use them?
It is not always the case and you are free to opt for whichever lawyer you decide for your Llanfechain home move. The solicitor suggested by an estate agent may not necessarily be the right property lawyer, they may put forward their own conveyancing firm who are based remotely. In this instance you may not have contact with your property lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain updates.