We are planning to acquire a 3 bedroom apartment in Solva with a mortgage. We like our Solva conveyancer, but the bank says he's not on their "panel". It appears that we have little choice but to select one of the bank panel conveyancing practices or retain our Solva lawyer as well as pay for one of their panel firms to act for them. We feel that this is unjust; 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. Another option that might be available is for your Solva conveyancing solicitor to apply to be on the conveyancing panel.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Santander Solicitor panel ahead of completing my conveyancing in Solva?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What will a local search inform me about the property we're buying in Solva?
Solva conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for example Xpress Legal The local search plays an important role in most Solva conveyancing purchase; as long as you don’t want any nasty once you have moved into your property. The search should reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
It has been five months since my purchase conveyancing in Solva took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a property in Solva in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the house. My surveyor has said that some banks tend refuse to give a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different requirements from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Solva. Conveyancing will be smoother if you use a solicitor in Solva especially if they are accustomed to such properties in Solva.
20 days into a sale of a flat in Solva. Conveyancing is fine but we are being charged a fortune from the managing agents. So far we have issued a cheque for £250 for a leasehold management information and then a further £117.20 for supplemental queries supplied by the purchaser's solicitor.
Your solicitor will not have any say over the level of the charges for this information but the average costs for the information for Solva leasehold property is £395. For Solva conveyancing sales it is usual for the owner to pay for these costs. The landlord or their agents are not duty bound to answer these questions although many will agree to do so - albeit often at exorbitant prices out of proportion to the work involved. Regretfully there is no statute that mandates fixed charges for administrative tasks. There is no prescriptive time frame by which they are required to supply answers.