We are buying a 1 bedroom apartment in Llanwrtyd Wells with a mortgage. We like our Llanwrtyd Wells solicitor, however the mortgage company advise he's not on their "panel". We have to appoint one of the lender panel firms or retain our Llanwrtyd Wells solicitor and pay for one of their panel firms to act for them. This seems very unfair; can we not require that the bank use our Llanwrtyd Wells conveyancing practitioner ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Llanwrtyd Wells conveyancing solicitor to apply to be on the conveyancing panel.
I have given 8 weeks notice to my existing landlord and must vacate my rented apartment in Llanwrtyd Wells by the end of next month. Conveyancing on my purchase is progressing. How realistic is it to complete in 5 weeks as I wish to avoid having to move into temporary accommodation?
The normal practice is not to serve notice for your tenancy until your lawyer suggests that you should. Assuming that you have not previously done so, update to your lawyer and urge them to they seek the assistance the other side, try to a target completion date that everyone will look to achieve
Do banks and building societies provide you with an approved list of Llanwrtyd Wells conveyancing solicitors? How do you know who is on the Leeds Building Society conveyancing panel?
Llanwrtyd Wells conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Llanwrtyd Wells conveyancer on the Principality panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Llanwrtyd Wells off the council. I have a mortgage offer with Co-operative. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
TSB have agreed my mortgage in principle, my bid on a apartment in Llanwrtyd Wells has been accepted, what are the next steps?
Your estate agent will want to know who your solicitors are (ensure that the solicitors are on the lender’s approved list). Call up TSB or your broker and finish off any relevant documentation. TSB will appoint a valuer who will get in touch with the estate agent or vendor to arrange a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. TSB will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Llanwrtyd Wells.
I'm buying a new build house in Llanwrtyd Wells with a mortgage from Barnsley Building Society. The builders refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not reveal to my lawyer about the extras as it will jeopardize my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Back In 2009, I bought a leasehold flat in Llanwrtyd Wells. Conveyancing and Birmingham Midshires mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a ground rent demand for rent dating back to 1991. The conveyancing solicitor in Llanwrtyd Wells who previously acted has now retired. What should I do?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is in fact the new freeholder. It is not necessary to incur the fees of a Llanwrtyd Wells conveyancing firm to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 1st floor flat in Llanwrtyd Wells, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Llanwrtyd Wells with over 90 years remaining are worth £206,000. The ground rent is £45 yearly. The lease comes to an end on 21st October 2091
You have 66 years remaining on your lease the likely cost is going to be between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" 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 the actual costs without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.