Me and my fiance are buying a 3 bedroom apartment in Porthcawl with a mortgage. We have a Porthcawl solicitor, but the lender advise she’s not on their "panel". It appears that we have no option but to select one of the lender panel solicitors or continue with our Porthcawl conveyancing practitioner and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
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 lawyer to apply to be on the conveyancing panel.
I am the registered owner of a freehold house in Porthcawl yet charged 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
is it true that all Porthcawl solicitor practices on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel in which case such organisation 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 Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
It is unclear whether my mortgage offer requires a lease extension. I have called my Porthcawl building society branch on various occasions and was told they are content with the situation and they will lend. My Porthcawl conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they will not lend in accordance with their published requirements. Who do I believe?
Your lawyer must comply with the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need to find a conveyancing solicitor for my conveyancing in Porthcawl. I happened to chance upon a site which looks to be the perfect solution If it is possible to get all the legals done via phone that would be ideal. Do I need to be wary? 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?
Having had my offer accepted I require leasehold conveyancing in Porthcawl. Before diving in I want to be sure as to the remaining lease term.
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 Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing
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Is anyone aware of any major works on the horizon that will likely add a premium to the service charges? Many Porthcawl leasehold properties will be liable to pay a service charge for the upkeep of the block set by the management company. Where you acquire the property you will have to pay this liability, normally periodically during the year. This may vary from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a ground rent to be met yearly, normally this is not a exorbitant amount, say approximately £25-£75 but you need to enquire as sometimes it can be prohibitively expensive. Who manages the block?
We are thinking of appointing a web based property lawyer rather than a Porthcawl conveyancing firm. Any advice?
Various benefits exist in having the option attend a local Porthcawl conveyancing solicitor such as
- signing documents and and when necessary
- getting one on one explanations of issues that you need help with
- the ability to raise concerns if matters need to addressed
When comparing fees, look carefully for hidden extras. Most decent Porthcawl high street solicitors give an all-inclusive price. Often online agents seem to offer low cost prices, yet have burried 'extras' in the fine print.