My husband and I are hoping to purchase a flat in Narberth and are in fact using a Narberth conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Clydesdale have this afternoon contacted us to advise us that there is now an issue as our Narberth conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Narberth lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
A colleague advised me that in purchasing a property in Narberth there may be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of anumerous of properties in Narberth which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Narberth should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have been advised by my solicitor that chancel insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Narberth?
The right level of chancel indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and The Royal Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such policies.
Is there a list of Santander panel solicitors in Narberth on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings open the public over the internet. Where you are seeking to appoint a Narberth solicitor on the Santander please use our facility.
We are close to exchanging contracts on the sale of our property in Narberth and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Narberth lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a nationwide conveyancing practice as opposed to a conveyancing solicitor in Narberth. We have lived in Narberth for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Narberth is where the house is located. What do you suggest?
Flying freeholds in Narberth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Narberth you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Narberth may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In my capacity as executor for the estate of my grandfather I am disposing of a house in Newport but reside in Narberth. My solicitor (approximately 200 kilometers awayneeds me to sign a stat dec prior to completion. Could you suggest a conveyancing practitioner in Narberth who can witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Narberth based
Last June I purchased a leasehold house in Narberth. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a basement flat in Narberth, conveyancing having been completed January 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Narberth with over 90 years remaining are worth £190,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2087
With 62 years left to run we estimate the price of your lease extension to be between £17,100 and £19,800 plus legals.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.