My partner and I are purchasing residence in Monmouthshire. My lawyer has never been on on the mortgage company conveyancing list. Can I still use my Monmouthshire conveyancing solicitor notwithstanding that they are not on the bank panel?
You have a number of choices available to you here
- Proceed with your chosen Monmouthshire solicitor but your lender will need to use a conveyancing practitioner from their conveyancing panel. This will result in additional cost together with probable interruption.
- Choose a fresh solicitor to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Appeal to your property lawyer to apply to join the bank panel
I have recentlydiscovered that Wolstenholmes have been shut down. They conducted my conveyancing in Monmouthshire for a purchase of a freehold house 18 months ago. How can I establish that the property is registered correctly in the name of the former proprietor?
The easiest method to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Monmouthshire conveyancing specialists.
I am buying a new build house in Monmouthshire with a mortgage from The Mortgage Works. The builders refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it may jeopardize my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am using a search engine for the words cheap conveyancing in Monmouthshire it brings up numerous solicitorsin the area. How do I determine which is the right property lawyer for purchase transaction?
The preferential method of choosing a suitable conveyancer is through a personal referral, so ask friends and those you trust who have acquired a property in Monmouthshire or a local estate agent or financial adviser. Fees for conveyancing in Monmouthshire differ, so it's sensible to obtain at least three costs illustrations from varying types of companies. Dont forget to clarify that the fees are fixed.
I am employed by a busy estate agent office in Monmouthshire where we have experienced a few flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Monmouthshire conveyancing firms. Could you confirm whether the owner of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I acquired a 2 bed flat in Monmouthshire, conveyancing was carried out 8 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Monmouthshire with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease finishes on 21st October 2080
With just 55 years unexpired we estimate the premium for your lease extension to range between £31,400 and £36,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.
At long last a loan agreement from a mortgage company for the remortgage of my 2 bedroom maisonette is expected within the next few days. Could you recommend an efficient remortgage conveyancing law firm in Monmouthshire ?
This site is not designed to help in pursuit of a cheap conveyancing solicitors in Monmouthshire. Our aim is to provide cost effective conveyancing but we do not work with the cheapest lawyers. Resist the temptation to appoint companies offering £99 conveyancing in Monmouthshire.At best, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for extras and still not get the service you were looking for.