Is the fact that my solicitor in Magor is not on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume 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. If you are concerned you should contact the Magor conveyancing firm and enquire why they are no longer on the approved list for your lender.
It is a dozen years since I acquired my property in Magor. Conveyancing lawyers have just been appointed on the sale but I am unable to find my title deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be retained by the mortgage company or they may still be with the lawyers who handled the purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. Almost all conveyancing in Magor relates to registered property but in the unlikely event that your home is unregistered it is more problematic but is resolvable.
I am purchasing a semi-detached house in Magor. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Magor you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Magor.
How does conveyancing in Magor differ for new build properties?
Most buyers of new build property in Magor approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Magor usually acquire the land, 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 Magor or who has acted in the same development.
I’m about to sell my ground floor flat in Magor. Conveyancing solicitors are to be appointed soon, but I have recently received a half-yearly maintenance charge demand – Do I pay up?
It best that you discharge the maintenance contribution as normal because all rents and maintenance payments will be allotted 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 managing agents 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. This will smooth the conveyancing process.
I own a basement flat in Magor, conveyancing was carried out March 1999. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Magor with a long lease are worth £180,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2083
With just 58 years remaining on your lease the likely cost is going to range between £21,900 and £25,200 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 extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
What type of property do your Magor conveyancing quotes apply to?
The quotes supplied are only applicable to standard residential property in England & Wales. If you have any different needs for example industrial or agricultural property or commercial conveyancing in Magor you should telephone us to address this further .