I am expecting a mortgage offer from Nat West. I intend to enlist the help of a Licensed Conveyancer in Pentwyn. Does the Nat West Solicitor panel exclude conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Our Pentwyn solicitor has spotted a difference when comparing the assumptions in the home valuation report and what is in the legal papers for the property. My solicitor says that he needs to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are purchasing a house and need a conveyancing solicitor in Pentwyn who is on the RBS approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for RBS . We don't recommend any particular firms conducting conveyancing in Pentwyn.
My aunt passed away six months ago and as sole heir and executor I was left the property in Pentwyn. The house had a relatively small loan remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
If you intend to refinance then Coventry BS will insist on your using a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
I'm purchasing my first flat in Pentwyn with the aid of help to buy. The sellers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not disclose to my solicitor about the extras as it may adversely affect my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have just started marketing my basement flat in Pentwyn. Conveyancing lawyers have not yet been instructed, but I have just had a quarterly service charge invoice – what should I do?
The sensible thing to do is discharge the maintenance contribution as usual because all rents and maintenance invoices should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless 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 own a 2 bed flat in Pentwyn, conveyancing formalities finalised 3 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Pentwyn with over 90 years remaining are worth £260,000. The ground rent is £50 levied per year. The lease terminates on 21st October 2100
With 75 years left to run the likely cost is going to range between £8,600 and £9,800 plus professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.