Am I correct in assuming that the fact that my conveyancer in St Asaph is not identified on my bank's conveyancing panel that there is a problem with the standard of his work?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume 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 St Asaph conveyancing firm and ask them why they are no longer on the approved list for your bank.
I am considering applying for a Santander mortgage for purchase of a new build (under development) in St Asaph with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Santander ?
There is nothing to stop you using your solicitor, but Santander will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Will our solicitor be raising enquiries about flooding as part of the conveyancing in St Asaph.
The risk of flooding is if increasing concern for lawyers dealing with homes in St Asaph. Some people will purchase a house in St Asaph, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a numerous checks that may be initiated by the purchaser or by their solicitors which can give them a better appreciation of the risks in St Asaph. The standard completed inquiry forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) contains a usual inquiry of the vendor to determine if the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the owner, then a buyer may commence a compensation claim as a result of such an incorrect answer. A purchaser’s lawyers should also carry out an environmental report. This should reveal whether there is any known flood risk. If so, further inquiries will need to be made.
3 months have elapsed following my purchase conveyancing in St Asaph took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 premises 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.
Is it best to use a St Asaph conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can deal with the conveyancing but her office is over three hundred miles away.
The benefit of a high street St Asaph conveyancing firm is that you can pop in to sign paperwork, hand in your identification documents and pester them if necessary. Having local St Asaph know how is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and in the main were impressed that should surpass using an unknown St Asaph conveyancing solicitor just because they are round the corner.
I’m about to sell my ground floor apartment in St Asaph. Conveyancing has not commenced, but I have recently received a half-yearly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as you normally would given that all ground rent and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I bought a 1st floor flat in St Asaph, conveyancing was carried out December 2012. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in St Asaph with a long lease are worth £186,000. The ground rent is £55 charged once a year. The lease finishes on 21st October 2079
With just 53 years remaining on your lease the likely cost is going to range between £27,600 and £31,800 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.