Much to our surprise we have been informed by our lender that my Pentyrch the law firm I have appointed is not on the mortgage company Solicitor panel. What can I do to check?
You need to call your Pentyrch conveyancer. You lawyer should inform you of the situation. Where they are not on the panel they may recommend you to a Pentyrch conveyancing firm that is on the conveyancing panel for your lender.
I do hope you can assist me. My Pentyrch conveyancer is informing me me that she is duty bound toapply for Pentyrch conveyancing searches becausethe firm are on the Lloydssolicitor panel. Is my lawyer right?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the CML Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Pentyrch conveyancing searches.
I am the registered owner of a freehold property in Pentyrch yet pay rent, why is this and what is this?
It’s unusual for properties in Pentyrch and has limited impact for conveyancing in Pentyrch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
The Pentyrch conveyancing firm that just started acting on my house acquisition in Pentyrch have suddenly shut down. I only went with them because I had to have a solicitor on the Clydesdale conveyancing panel and my family Pentyrch lawyer was not. I sent them a cheque for £250 in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Clydesdale conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
A friend informed me that in purchasing a property in Pentyrch there could be various restrictions preventing external changes to a property. Is this right?
We are aware of a number of properties in Pentyrch which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Pentyrch should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have instructed a Pentyrch lawyer having made sure that they are on the Skipton conveyancing panel. Does my lawyer arrange the survey of the property?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Pentyrch postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Pentyrch.
Virgin Money have agreed my home loan in principle, my bid on a flat in Pentyrch has been agreed to, what are the next steps?
The estate agent will wish to be advised as to your solicitor's details (ensure that the conveyancers are on the bank’s panel). Telephone Virgin Money or the financial adviser and finalise any appropriate documentation. Virgin Money will sellect a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to take place. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. Virgin Money will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Pentyrch.
Due to the encouragement of my in-laws I had a survey completed on a house in Pentyrch before instructing lawyers. I have been told that there is a flying freehold element to the house. My surveyor advised that some lenders may refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Pentyrch. Conveyancing may be slightly more expensive based on your lender's requirements.