I am getting a mortgage offer from Santander. I intend to enlist the help of a Licensed Conveyancer in Morriston. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I am selling my home in Morriston. Will the property lawyer have to be required to be on the RBS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the RBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
I just acquired a flat at auction in Morriston. Conveyancing is needed. What are my next steps?
Given that you are now for in every practical sense signed on the dotted line you should appoint a conveyancing lawyer soon as you are facing a pending a fixed date to complete the conveyancing. An auction property should have a bespoke auction set of papers. This will include most,if not all of the documents that your solicitor requires. If you have purchased leasehold premises the legal pack should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You need to give this to the solicitor instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
I am due to move home in May. Should my conveyancing solicitor update the removal company on the day of completion. Incidentally, can you suggest a removal company in Morriston. Conveyancing solicitor was found before I stumbled across this site.
On the afternoon of completion you can collect the keys from the selling agent but this should only occur after the previous owners lawyers inform the agent that the monies to complete are in and the keys can be handed over. Subsequently you can advise the removal men that you are ready to move in. We do not suggest a specific removal company but can help you locate a residential property solicitor in Morriston or a firm that specialises in conveyancing in Morriston.
When it comes to mortgage companies such as Nationwide, do Morriston property lawyers face a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I have recentlybeen informed that Stirling Law have been shut down. They conducted my conveyancing in Morriston for a purchase of a leasehold apartment 12 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The easiest method to check if the property 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 Morriston conveyancing specialists.
I am looking for a flat up to £245,000 and identified one round the corner in Morriston I like with a park and station nearby, however it only has 52 years unexpired on the lease. There is not much else in Morriston suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a mortgage the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
I work for a reputable estate agent office in Morriston where we have experienced a few leasehold sales put at risk as a result of short leases. I have been given conflicting advice from local Morriston conveyancing firms. Could you confirm whether the owner of a flat can instigate the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, 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 own a split level flat in Morriston, conveyancing was carried out in 2010. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Morriston with an extended lease are worth £211,000. The ground rent is £45 charged once a year. The lease ends on 21st October 2092
With 67 years unexpired we estimate the premium for your lease extension to be between £10,500 and £12,000 as well as legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.