We are nearing an exchange on a property in Mountain Ash and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your conveyancing practitioner is obliged to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Why do I have to pay up front when it comes to conveyancing in Mountain Ash?
If you are buying a property in Mountain Ash your solicitor will request that you to provide them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any deposit is payable against the purchase price then this should be asked for immediately in advance of exchange of contracts. The final balance that is due should be sent to your lawyer a few days ahead of the completion date.
we are a couple who are purchasing a newbuild flat in Mountain Ash with a loan from Clydesdale.We use our Mountain Ash conveyancing solicitor but Clydesdale says his firm is not listed on their "panel". We have to appoint a Clydesdale panel solicitor or retain our local solicitor and pay for a Clydesdale panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that conveyancers needs to be on the Clydesdale conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Clydesdale
Me and my brother have a semi-detached Victorian property in Mountain Ash. Conveyancing practitioner acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mountain Ash and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who carried out the work.
We are 18 days into a residential purchase having been referred to solicitors by the estate agent to perform conveyancing in Mountain Ash. I am am very frustrated with the quality of service. Can you help me find new lawyers?
A solicitor would have to be very poor in order to consider replacing them. Has your mortgage offer been generated? In the event that it has you need to make them aware of the replacement lawyer and have the mortgage documents are re-sent. The conveyancer should be on the mortgage company approved list to avoid escalating fees and complications. That should be your first question of the new lawyers. Our search tool should assist you in finding a lender approved conveyancer for your home move in Mountain Ash
Can you offer any advice when it comes to appointing a Mountain Ash conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Mountain Ash conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you make enquires with two or three firms including non Mountain Ash conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be helpful:
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If they are not ALEP accredited then why not? Can they put you in touch with clients in Mountain Ash who can give a testimonial?
I inherited a ground floor flat in Mountain Ash, conveyancing was carried out August 1995. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Mountain Ash with an extended lease are worth £201,000. The average or mid-range amount of ground rent is £45 yearly. The lease comes to an end on 21st October 2090
You have 64 years unexpired the likely cost is going to span between £15,200 and £17,600 as well as 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 the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns 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 without first getting professional advice.