We are soon to exchange on the purchase of a house in Rhuddlan but as a result of damage from a small fire at the property I have was able negotiate reparation from the vendor of three thousand pounds by way of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process however Coventry BS will not agree to this. Why were they approached?
Your solicitor being on the Coventry BS conveyancing panel is obliged to disclose to Coventry BS of any amendments to the purchase price. If you were to refuse your conveyancing practitioner to report the price change to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new property lawyer for your conveyancing in Rhuddlan.
At what point does exchange of contracts occur in sale conveyancing in Rhuddlan and do I need to be at the solicitors branch?
If you are near to our conveyancing solicitors in Rhuddlan you are welcome to attend to sign documents. That being said, the lender approved solicitors we recommend offer countrywide coverage for conveyancing and give just as diligent and professional a job for you when dealing with you digitally. The executing of the contract is not the critical part. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Rhuddlan)to be in the office at the appropriate time.
I had intended to instruct a property lawyer in Rhuddlan for our home move. Our broker has since advised us that our mortgage company Bank of Scotland won't deal with them. Surely this is unfair competition?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Rhuddlan conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms concerning their operations and their employees and set certain criteria such a completing on a minimum amount of conveyancing. Many Rhuddlan conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Rhuddlan is amongst the thousands of areas where the conveyancers we list are are approved Bank of Scotland.
Is it the case that all Rhuddlan CQS (Conveyancing Quality Scheme) solicitors are on the Principality conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
Is it the case that all Rhuddlan conveyancing solicitors on the Santander conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Santander approved list of solicitors they would need to be governed by the SRA. Some banks do list licenced conveyancers on their panel and in such a situation the practice would be governed by the Council of Licensed Conveyancers.
I am selling my house. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being a right pain. The Rhuddlan solicitor who is on the Nationwide conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Rhuddlan I like with a park and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Rhuddlan for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a home loan that many years may be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
Having had my offer accepted I require leasehold conveyancing in Rhuddlan. Before I set the wheels in motion I require certainty as to the remaining lease term.
Assuming the lease is registered - and almost all are in Rhuddlan - 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.
Leasehold Conveyancing in Rhuddlan - Sample of Queries before buying
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Who are the managing agents? You should be aware if it is less than eighty years it will have adverse implications on the salability of the apartment. It is worth checking with your lender that they are content with residual term of the lease. A short lease means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. Remember, in most cases you will be be obliged to have owned the property for a couple of years in order to be entitled to extend the lease. This information is helpful as a) areas can cause problems for the block as the common areas may begin to deteriorate where services are not paid for b) if the leaseholders have an issue with the running of the building you will wish to have all the details