Am I correct in assuming that the fact that my conveyancer in Rumney is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Rumney conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
IfI were to purchase a freehold housein Rumney for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Rumney?
The sole saving you would make on is the Rumney conveyancing searches. The property lawyer still got to do everything else - money laundering, liaising with your vendors property lawyer, SDLT submission, register the property etc. You might save a bit for them not needing to register a charge but it will not be significant.
My apartment in Rumney is up for sale and I have accepted an offer. Will the property lawyer need to be required to be on the Yorkshire BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
I am helping my sister sell her flat in Rumney. Does the conveyancer commission an energy performance certificate or it is for me to coordinate?
After the demise of Home Information Packs, EPC’s was maintained a mandatory element of moving house. An energy assessment should be to hand before the property is put on the market. It is not as aspect of the sale process that solicitors ordinarily arrange. If you are using a Rumney conveyancing practitioner they might be willing to arrange energy performance certificates due to their contacts with long established Rumney assessors
I am the only beneficiary of my late grandmother’s estate and I have everything in my name alone, including the house in Rumney. The Rumney property was put into my name in August. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship may be treated the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many lenders would take a sensible view as this provision principally exists to capture the purchase and immediately sell or the quick reselling of property.
About to purchase house in Rumney. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rumney conveyancing practitioner is on the Lloyds conveyancing panel.
My colleague suggested that if I am purchasing in Rumney I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally included in the estimate for your Rumney conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Rumney around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Rumney Education with plans and statistics, Local Amenities and other useful information about Rumney.
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Rumney I like with open areas and railway links nearby, the downside is that it only has 61 remaining years left on the lease. There is not much else in Rumney in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
If you need a mortgage that many years may be a potential deal breaker. Discount the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.