Unfortunately I am unable to travel far from Reynoldston. I would like to know the reason why all Reynoldston solicitors aren't automatically on all bank panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which kicked off a major policy change in the sector. This led to lenders removing less reputable firms from their panel of approved conveyancing practitioners .
I have given 8 weeks notice to my existing landlord and must be out of my let out apartment in Reynoldston by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in three weeks as don't want to have to move into short term accommodation?
Generally one should not serve notice for your lease until exchange of contracts has taken place. If you have not previously done so, contact to your solicitor and urge them to they cajole the sellers side, try to an acceptable time-line that everyone will work towards
I have been recommended a conveyancing solicitor in Reynoldston. I need to find out whether they are on the Virgin Money approved list of lawyers. Could you or the lender confirm if they are on the panel?
You should phone the lawyer and enquire whether they are on the lender panel. Alternatively you can get in touch with Virgin Money who may be able to confirm.
I moved into my house on 3 November and my personal details are still not on the land registry website. Need I be worried? My conveyancing solicitor in Reynoldston said it would be recorded in a couple of weeks. Are titles in Reynoldston uniquely lengthy to register?
As far as conveyancing in Reynoldston registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether it is in order and if the Land registry communicate with any other persons or bodies. Currently roughly three quarters of submission are fully dealt with within 12 days but occasionally there can be extensive hold-ups. Registration is effected once the buyer has moved in to the premises so 'speed' is not usually primary concern yet if there is a degree of urgency associated with the registration then you or your lawyers can communicate with the Registry to express the reasoning for an expedited registration.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Reynoldston is where the house is located. Is there any guidance you can give?
Flying freeholds in Reynoldston are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Reynoldston you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Reynoldston may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I've recently bought a leasehold property in Reynoldston. Am I liable to pay service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a garden flat in Reynoldston, conveyancing was carried out 5 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Reynoldston with an extended lease are worth £191,000. The ground rent is £55 per annum. The lease expires on 21st October 2078
You have 53 years left to run we estimate the price of your lease extension to range between £27,600 and £31,800 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.