Having sold my house in Penarth last April but our buyer keeps e-mailing every few hours to moan that her lawyer is waiting to hear from mylawyer. What should have happened following completion?
After completion of your house sale your conveyancer should send the transfer deeds and all of the paperwork to the buyer’s lawyers. Where relevant, your solicitor should also send confirmation that the home loan has been redeemed to the buyers conveyancers. There is unlikely to be post completion tasks peculiar conveyancing in Penarth.
What happens if my solicitor is removed from the Lloyds Conveyancing panel ahead of completing my conveyancing in Penarth?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
A relative informed me that in purchasing a property in Penarth there could be various restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Penarth which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Penarth should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I buying a terrace house in Penarth. The intention is to carry out a loft conversion at the house.Will legal investigations on the property include checks to ascertain if these works are prohibited?
Your property lawyer will review the registered title as conveyancing in Penarth will sometimes identify restrictions in the title documents which prohibit categories of alterations or need the consent of a 3rd party. Many additions require local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these things with a surveyor before you commit yourself to a purchase.
I am currently in the process of buying my council flat in Penarth. I have a mortgage offer with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
I have justbecome aware that Wolstenholmes have been shut down. They carried out my conveyancing in Penarth for a purchase of a freehold house 10 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The easiest method to check if the premises is registered to you, you can make 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 Penarth conveyancing specialists.
I am on look out for some leasehold conveyancing in Penarth. Before diving in I would like to find out the unexpired term of the lease.
If the lease is registered - and most are in Penarth - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I inherited a 1 bedroom flat in Penarth, conveyancing was carried out June 1999. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Penarth with a long lease are worth £181,000. The average or mid-range amount of ground rent is £55 yearly. The lease expires on 21st October 2077
You have 51 years left to run we estimate the price of your lease extension to range between £30,400 and £35,200 as well as costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously want to 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.
Our lawyer in Penarth has identified a a legal deficiency with the lease for the property we are purchasing in Penarth. The other side have suggested defective title insurance as a solution. We are content with insurance and will cover the costs. Our lawyer has advised that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.