My IFA says he needs my Margam solicitor’s panel reference for the Nationwide conveyancing panel. What is the best way to obtain this. I have contacted my local Margam office but they have not responded to me.
You are best placed to get this information from your Margam property lawyer . They retain a central record lender panel numbers.
The owners of the property we are purchasing are using a conveyancing firm in Margam who has suggested a exclusivity contract with a non-refundable deposit 6,000. Are such agreements sensible?
This form of agreement is unusual in Margam, conveyancers are not keen on them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. Furthermore, there is no assurance that just because the owner has signed a lock out contract they will complete the sale with you. They may be in contravention of the agreement if they are offered a big enough incentive to do so because an aggrieved party with the benefit of a lockout agreement will still be duty bound to establish consequential losses from the breach and these may not equate the financial benefit that the owner may gain by breaching the agreement, however morally condemnable the behaviour is.
is it true that all Margam solicitor firms on the Barclays conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Barclays conveyancing panel they would need to be overseen by the SRA. Many mortgage companies do permit licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
The mortgage over my property is with Aldermore for my property in Margam. Conveyancing was finalised some time ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Aldermore?
Aldermore must be informed of your intention prior to renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. In many cases banks or building societies will permit you to let 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 Aldermore directly. It should not be necessary to do this via a Aldermore conveyancing panel lawyer.
Principality have agreed my mortgage in principle, my offer on a property in Margam has been agreed to, now what?
The property agent will want to know who your solicitors are (be sure the conveyancers are on the bank’s approved list). Telephone Principality or your broker and finalise any appropriate forms. Principality will sellect a valuer who will get in touch with the selling agent or owners to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes on average ten days to receive the mortgage offer. Principality will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Margam.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who handled the conveyancing in Margam 4 years ago no longer exist. What are my next steps?
As long as you have a registered title the information relating to your proprietorship will be retained by HMLR with a Title Number. It is possible to perform a search at the Land Registry, find your house and get up to date copies of the Registered Entries for less than a fiver. If the property is Leasehold then the Land Registry will also normally retain a certified copy of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
Should I choose a Margam conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can carry out the conveyancing however her office is approximately 350kilometers away.
The primary upside of using a local Margam conveyancing firm is that you can pop in to execute documents, hand in your ID and pester them if necessary. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have instructed your friend and on the whole were content that must outweigh using an unfamiliar Margam conveyancing lawyer solely due to them being Margam based.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £450,000 flat in Margam next week. The managing agents has quoted £372 for Certificate of Compliance, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge such fees for a leasehold conveyance in Margam?
Margam conveyancing on leasehold apartments more often than not requires the purchaser’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are at liberty to invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it is in excess of £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in respect of administration fees, otherwise the charge is technically not due. Reality however dictates that one has no choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Margam Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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How long is the Lease? Is there a share of the freehold? Are any of leasehold owners in dispute over their service charge payments?