I am selling my flat in Treharris and the EA has just e-mailed to advise that the purchasers are switching law firm. The reason given is that the lender will only deal with property lawyers on their approved list. Why would a big named lender only engage with specific solicitors rather the firm that they want to select to handle their conveyancing in Treharris ?
UK lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders justify this action to 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. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to take this when acquiring a residence in Treharris? or I am told that there is a law dating back centuries that could mean that homeowners residing in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this a legitimate concern for conveyancing in Treharris?
Unless a prior acquisition of the property completed post 12 October 2013 you could expect conveyancing practitioners conducting conveyancing in Treharris to continue to suggest a chancel search and or chancel repair liability insurance.
The deeds to my home are lost. The conveyancers who handled the conveyancing in Treharris 10 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title official documentation to prove you are the registered proprietor of land or premises, as the Land Registry have everything they need in a digital format.
I have been on the look out for a leasehold apartment up to £245,000 and found one near me in Treharris I like with a park and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Treharris suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage that many years may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Do you have any advice for leasehold conveyancing in Treharris with the aim of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Treharris can be avoided if you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold information needed by the buyers’ solicitors. If you have had conflict with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over rather than unsettled. A minority of Treharris leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors. If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you installed wooden flooring? Most leases in Treharris state that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord approving such works. If you fail to have the consents in place you should not contact the landlord without checking with your conveyancer before hand.
I inherited a split level flat in Treharris, conveyancing having been completed in 2002. How much will my lease extension cost? Comparable properties in Treharris with an extended lease are worth £202,000. The ground rent is £60 yearly. The lease comes to an end on 21st October 2082
With just 57 years unexpired we estimate the price of your lease extension to span between £28,500 and £33,000 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
Online research suggests that Treharris solicitors are more expensive than Treharris conveyancers in Treharris when it comes to buying a house. So is it better if I use a conveyancer or a solicitor where I am purchasing a house in Treharris.
When it comes to conveyancing in Treharris the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.