I am progressing with the sale of my maisonette in Tonteg and the estate agent has just e-mailed to say that the purchasers are switching conveyancer. The reason given is that the lender will only work with solicitors on their conveyancing panel. Why would a leading lender only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Tonteg ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
As I am unsure how the conveyancing bit works what is the most important advice you can give me concerning purchase conveyancing in Tonteg?
You may not hear this from too many lawyers but conveyancing in Tonteg and elsewhere in Abercynon is often a confrontational experience. Put another way, when it comes to conveyancing there exists an abundance of opportunity for confrontation between you and others involved in the home moving process. For instance, the seller, estate agent and even potentially the mortgage company. Selecting a solicitor for your conveyancing in Tonteg is a critical decision as your conveyancer is your adviser, and is the ONLY party in the legal process whose responsibility is to protect your legal interests and to keep you safe.
We are witnessing a distinct creep of a "blame" culture- someone has to be blamed for the process being so protracted. We recommend that you your first instinct should be to trust your lawyer above all other parties when it comes to the legal transfer of property.
I have justfound out that Stirling Law have closed. They carried out my conveyancing in Tonteg for a purchase of a leasehold apartment 12 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tonteg conveyancing specialists.
I am buying a new build apartment in Tonteg. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Tonteg
-
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I have been sourcing a conveyancing lawyer in Tonteg for my house move. Is there any facility to see a firm’s complaints history with the profession’s regulator?
Anyone can see presented Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator may recorded telephone calls for training purposes.
I am a negotiator for a busy estate agency in Tonteg where we have experienced a number of leasehold sales put at risk as a result of short leases. I have been given inconsistent advice from local Tonteg conveyancing solicitors. Could you shed some light as to whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I acquired a leasehold flat in Tonteg, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent properties in Tonteg with over 90 years remaining are worth £179,000. The ground rent is £65 per annum. The lease ends on 21st October 2082
With 57 years remaining on your lease the likely cost is going to span between £26,600 and £30,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before seeking the advice of a professional.