My partner and I are looking to buy a home in Pontprennau and are in fact using a Pontprennau conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Lloyds TSB Bank have this afternoon contacted us to inform me that there is now an issue as our Pontprennau solicitor is not on their conveyancing panel. Is this a problem?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Pontprennau lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Is it necessary to take out insurance to cover chancel repairs when acquiring a house in Pontprennau?
Unless a prior acquisition of the premises took place after 12 October 2013 you may expect conveyancing practitioners conducting conveyancing in Pontprennau to continue to advocate a chancel search and or chancel repair liability insurance.
I used Action Conveyancing several years past for my conveyancing in Pontprennau. I now require my file but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Pontprennau of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build flat in Pontprennau. 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 legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Pontprennau
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Please supply a car parking plan. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared.
I am in need of some leasehold conveyancing in Pontprennau. Before I get started I require certainty as to the remaining lease term.
Assuming the lease is registered - and almost all are in Pontprennau - then the leasehold title will always include the basic details 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 own a studio flat in Pontprennau, conveyancing having been completed 10 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Pontprennau with a long lease are worth £185,000. The ground rent is £65 invoiced every year. The lease ends on 21st October 2085
With just 60 years unexpired we estimate the premium for your lease extension to span between £20,000 and £23,000 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Me and my wife are selling a Pontprennau flat we inherited ten years ago in 2011. I have over a decades worth of conveyancing know-how and, although retired, intend to carry out my own legal work. The buyer's conveyancer has informed me that their building society will not allow us to do our own conveyancing insisting the funds to be transferred to a solicitor's bank account.
Lending instructions to conveyancers from all mainstream lenders state that If the seller is not legally represented the buyer’s lawyers should check whether the lender needs to be notified so that a decision can be reached as to whether or not they are willing to progress.