We're in Pentraeth, First time buyers purchasing with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Me and my partner are buying a apartment in Pentraeth. I might seem paranoid but how we can trust a lawyer? On the day of competition we have to send money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all Pentraeth solicitor practices on the Lloyds conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Lloyds conveyancing panel they would need to be governed by the SRA. The majority of lenders do allow licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
I am buying a property in Pentraeth. A rare aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is RBS your lawyer must follow the conveyancing requirements set out in Section two of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and conveyancers are required to report to RBS where a lease does not satisfy these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Pentraeth.
What will a local search reveal about the property I am purchasing in Pentraeth?
Pentraeth conveyancing often starts with the submitting local authority searches directly from your local Authority or via a personal search organisations such as Onsearch The local search plays an important role in many a Pentraeth conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I purchased a terraced Edwardian property in Pentraeth. Conveyancing solicitor acted for me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pentraeth and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who completed the work.
Just had an offer accepted on a new build flat in Pentraeth. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Pentraeth
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Please supply a car parking plan. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Over the last few months I have been searching for a flat up to £235,500 and found one close by in Pentraeth I like with amenity areas and railway links nearby, however it only has 61 years on the lease. There is not much else in Pentraeth for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this.