Me and my fiance are purchasing property in Risca. My lawyer is not listed on the mortgage company solicitor panel. Is it possible for me to continue with my Risca conveyancing solicitor even though they are not on the lender list of approved lawyers?
You must appoint a solicitor to complete the legal work required if you take out a loan to buy your home. They will carry out all the relevant legal checks on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is in order. One can select a Risca lawyer of your choice. However, if the conveyancing practitioner selected is not a member of the mortgage company approved list additional charges will arise as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so provided your solicitor has not previously applied for membership they should do so.
When it comes to lenders such as Co-operative, do Risca solicitors have to pay an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I have decided to exercise my right to buy my property in Risca off the council. I have a mortgage offer with TSB. 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 TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I am selling my flat. I had a double glazing fitted in January 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Co-operative are being a right pain. The Risca solicitor who is on the Co-operative conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Co-operative are requiring a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Risca is where the house is located. Can you shed any light on this issue?
Flying freeholds in Risca are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Risca you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Risca may determine 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 property.
My husband and I are new on the property ladder - had an offer accepted, yet the agent has warned us that the vendor will only move forward if we instruct the agent's recommended conveyancers as they need a ‘quick sale’. We would rather use a high street solicitor who is accustomed to conveyancing in Risca
It is unlikely the sellers are driving this. Should the owner desire ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Bypass the agents and go straight to the sellers and make sure they comprehend that (a)you are motivated purchasers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you are going to use your preferred Risca conveyancing lawyers - not the ones that will provide their negotiator at the agency a commission or hit his conveyancing figures demanded by HQ.
Can you offer any advice when it comes to appointing a Risca conveyancing firm to deal with our lease extension?
When appointing a conveyancer for lease extension works (regardless if they are a Risca conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with two or three firms including non Risca conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
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What are the legal fees for lease extension conveyancing? How familiar is the practice with lease extension legislation?
I own a studio flat in Risca, conveyancing was carried out 5 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Risca with an extended lease are worth £201,000. The ground rent is £45 invoiced every year. The lease ends on 21st October 2089
With just 64 years unexpired we estimate the premium for your lease extension to range between £15,200 and £17,600 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.
I pay a maintenance fee for my property in Risca. As a result of personal circumstances I fell behind with payments. I negotiated a payment plan but there remains approximately £1750 outstanding as of today.
I want to sell and I am panicking this may hold me back if I have to settle the arrears in advance. Do I have to settle before - is this practicable?
Your conveyancing practitioner will hopefully be in a position to negotiate with the appropriate parties, with a new to seeing if they would accept payment from completion monies. This is an example of why it might be good to instruct a lawyer in Risca as they are likely to have an open line of communication with the management company.