I can't travel far from Margam. What is the rationale as to why all Margam conveyancing practitioners are not on all bank panels?
A decade ago most mortgage companies demonstrated an approach to risk which differs from the current day. The FSA in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the property lawyers on your panel. As a result, lenders have since soughtmore data from law firms concerning their operations and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum volume of transactions the lenders required.
Do the conveyancing lawyers Indexed on your site execute auction conveyancing in Margam?
There are a number of auction solicitors we can connect you with those specialising in auction conveyancing. Margam is just one of our areas of where our lawyers have a presence.
My property lawyer in Margam has never been on on the Aldermore Solicitor Panel. Is it possible for me to retain my prefered solicitor even though they are not on the Aldermore panel?
The limited options available to you here include:
- Complete the purchase with your existing Margam solicitors but Aldermore will need to instruct a conveyancer on their list of acceptable firms. This will result in additional total conveyancing charges as well as cause delays.
- Find a new solicitor to act in the purchase, not forgetting to check they are on the Aldermore panel
I need to retain a conveyancing solicitor for purchase conveyancing in Margam. I have land on a site which seems to have the ideal offering If it is possible to get all this stuff done via web that would be preferable. Should I 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 have just started marketing my ground floor flat in Margam. Conveyancing has not commenced, but I have just had a half-yearly maintenance charge demand – Do I pay up?
It best that you discharge the service charge as normal because all ground rent and maintenance charges should be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until 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 purchased a 1st floor flat in Margam, conveyancing was carried out 3 years ago. Can you work out an approximate cost of a lease extension? Comparable flats in Margam with over 90 years remaining are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2093
You have 68 years unexpired the likely cost is going to be between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.
My lawyers in Margam have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the lender. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the bank directly.