My Conveyancer in Penyffordd has never been on on the Leeds Building Society Conveyancing Panel. Can I still continue with my prefered solicitor even though they are excluded from the Leeds Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your preferred Penyffordd lawyers but Leeds Building Society will need to use a conveyancer on their panel. This will result in additional total legal fees and result in delays.
- Get a new lawyer to to deal with the conveyancing, remembering to check they are Persuade your conveyancer to use their best endeavours to join the Leeds Building Society conveyancing panel
We had appointed solicitors located in Penyffordd on the Santander solicitor panel. They have just billed me a further sum for handling the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer is entitled to charge a fee for this. The fee is not dictated by Santander but by your Penyffordd conveyancing practitioner. Plenty of firms on the Santander panel will levy ’dealing with mortgage’ fee and others do not.
How can we know in advance if a Penyffordd conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Penyffordd seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor carrying out your conveyancing.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Penyffordd solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS 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 Penyffordd postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Penyffordd.
Just had an offer accepted on a new build apartment in Penyffordd. Conveyancing is daunting 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 few leasehold new build questions that you may expect your new-build leasehold conveyancing in Penyffordd
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one near me in Penyffordd I like with amenity areas and transport links in the vicinity, however it's only got 51 years unexpired on the lease. There is not much else in Penyffordd for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
In my capacity as executor for the will of my aunt I am disposing of a property in Neath but live in Penyffordd. My conveyancer (based 260 miles from merequires that I sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing solicitor in Penyffordd who can attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Penyffordd based
I am a negotiator for a long established estate agency in Penyffordd where we see a number of leasehold sales derailed as a result of short leases. I have been given conflicting advice from local Penyffordd conveyancing solicitors. Can you confirm whether the seller of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I inherited a garden flat in Penyffordd, conveyancing formalities finalised in 2001. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Penyffordd with an extended lease are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease finishes on 21st October 2102
With 76 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.