It has come to my attention via my IFA that my Llanon property lawyer is not on the mortgage company Conveyancing panel. How can I be sure whether this is correct?
You need to call your Llanon lawyer directly. It is reasonable to expect your lawyer to advise you what has happened. Where they are not on the panel they may recommend you to a Llanon conveyancing firm that is on the approved list of lawyers for your lender.
The Llanon conveyancing firm handling our Llanon conveyancing has discovered a discrepancy when comparing the information in the home valuation survey and what is revealed within the title deeds. My solicitor informs me that he is duty bound to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions 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 both parties.
It is 10 years ago since I acquired my property in Llanon. Conveyancing lawyers have now been instructed on the sale but I can't locate the deeds. Will this cause complications?
You need not be too concerned. Firstly there is a possibility that the deeds will be with the lender or they may stored with the lawyers who oversaw the purchase. Secondly in all probability the property will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Llanon involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
Are all Llanon Conveyancing Quality Solicitors on the UBS conveyancing panel?
A selection of lenders now make use of CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
We have agreed to purchase a house in Llanon. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Coventry BS your lawyer must comply with the formal requirements set out in Part two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and solicitors are required to report to Coventry BS where a lease fails to satisfy these provisions. The provisions relate to the installation of panels on properties countrywide and is not isolated to Llanon.
We expect to receive a OIP from Skipton this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Skipton recommend any Llanon solicitors on the Skipton conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Llanon solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.
I need to appoint a conveyancing solicitor for my conveyancing in Llanon. I have land on a web site which appears to be the ideal offering If there is a chance to get all formalities completed via web that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns buying a leasehold house in Llanon. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Llanon are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. We note that you are purchasing in Llanon so you should seriously consider shopping around for a Llanon conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as requiring the freeholder’spermission to carry out alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
I own a 1st floor flat in Llanon, conveyancing was carried out in 2008. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Llanon with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2091
You have 67 years remaining on your lease we estimate the premium for your lease extension to range between £10,500 and £12,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.