Me and my fiance are buying a 3 bedroom apartment in Porthcawl with a mortgage. We would like to retain our Porthcawl solicitor, however the mortgage company advise he's not on their "panel". It seems we have little option but to use one of the bank panel firms or retain our Porthcawl conveyancing practitioner as well as pay for one of their panel lawyers to act for them. We feel that this is inequitable; are we not able to insist that the bank use our Porthcawl conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Porthcawl conveyancing solicitor to apply to be on the conveyancing panel.
I own a freehold premises in Porthcawl but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Porthcawl and has limited impact for conveyancing in Porthcawl 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of new 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 extinguished.
is it true that all Porthcawl conveyancing solicitors on the Clydesdale conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be governed by the SRA. The majority of banks do allow licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I have decided to exercise my right to buy my property in Porthcawl off the council. I have a mortgage agreed with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Porthcawl bank branch on various occasions and was told they are content with the situation and they would lend. My Porthcawl conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend based on their specific requirements. I simply don't know who is right.
Your solicitor has to comply with the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I need to find a conveyancing solicitor for purchase conveyancing in Porthcawl. I have land on a site which looks to be the ideal answer If it is possible to get all formalities done via email that would be preferable. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am in need of some leasehold conveyancing in Porthcawl. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and almost all are in Porthcawl - 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.
Porthcawl Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Who manages the block? What is the annual maintenance fee and ground rent?
I am considering instructing a web based property lawyer ahead of a Porthcawl conveyancing practice. Any advice?
Advantages do exist in having the option attend a local Porthcawl conveyancing solicitor such as
- signing documents same day
- getting one on one explanations of things you don't understand
- the ability to complain if things are not going as expected
When checking quotes, look out for hidden extras. Most decent Porthcawl high street solicitors give an all-inclusive figure. Many online companies appear to offer low cost prices, yet have burried 'extras' in the small print.