We wanted to use a conveyancing solicitor in Nantyglo for our house purchase. Our financial adviser has since advised us that our bank Virgin Money won't deal with them. Surely this is unfair competition?
Lenders on the whole restrict either the category or the volume of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a law practice must have two or more partners. As well as restricting the type of firm, a few banks have decided to limit the number of firms they allow to represent them. Be aware that Virgin Money have no responsibility for the quality of advice provided by any member of Virgin Money Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels a few years ago even though there remains differing opinions about the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near Nantyglo only perform very few conveyances per annum.
I'm the only recipient of my late father’s will and I have everything in my name alone, including the house in Nantyglo. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the house. I do know about the CML 6 month 'rule', meaning my property ownership may be considered the same way as if I'd bought the house in October. Do I have to wait half a year to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most mortgage companies would take a pragmatic view as this obligation is principally there to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
We are getting the release of further monies on our mortgage from RBS as we intend to conduct a loft conversion to our property in Nantyglo. Do we need to select a nearby Nantyglo solicitor on the RBS conveyancing panel to deal with the legals?
RBS do not ordinarily require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Nantyglo solicitor on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up as part of conveyancing in Nantyglo?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Nantyglo. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
In my capacity as executor for the will of my uncle I am selling a property in Cardiff but I am based in Nantyglo. My lawyer (who is 300 kilometers from mehas requested that I sign a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Nantyglo who can witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are based in Nantyglo
Estate agents have just been given the go-ahead to market my 2 bed apartment in Nantyglo. Conveyancing lawyers have not yet been instructed, but I have recently had a half-yearly service charge demand – what should I do?
It best that you clear the service charge as usual because all ground rent and service payments will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the buyer 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 am the registered owner of a split level flat in Nantyglo, conveyancing was carried out April 1999. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Nantyglo with an extended lease are worth £197,000. The average or mid-range amount of ground rent is £55 yearly. The lease comes to an end on 21st October 2079
With 55 years left to run the likely cost is going to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the lender conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.