I have just been advised by my estate agent that my Whitland solicitor is not on the bank Solicitor panel. What can I do to be certain whether this is indeed the case?
You need to call your Whitland conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they may be able to suggest a Whitland conveyancing firm that is on the approved list of lawyers for your mortgage company.
We note that you have a post code search directory identifying solicitors on the Co-operative conveyancing panel. Do companies pay you a commission if I retain them for our own conveyancing in Whitland?
We are a listing service only for law firms wishing to communicate if they are on the Co-operative conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Whitland.
We're in Whitland, First timers purchasing with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm purchasing a new build house in Whitland with a loan from Santander. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The estate agent suggested that I not inform my conveyancer about the deal as it could impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Whitland is the location of the property. What do you suggest?
Flying freeholds in Whitland are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Whitland you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whitland may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Back In 2005, I bought a leasehold house in Whitland. Conveyancing and The Mortgage Works mortgage are in place. A letter has just been received from someone claiming to own the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1992. The conveyancing solicitor in Whitland who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Whitland conveyancing lawyer to do this as it can be done on-line for a few pound. You should note that in any event, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a leasehold flat in Whitland, conveyancing formalities finalised in 2001. Can you work out an approximate cost of a lease extension? Equivalent properties in Whitland with an extended lease are worth £192,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2080
With 54 years left to run the likely cost is going to range between £32,300 and £37,400 as well as costs.
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 investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns 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 placing reliance on this information without first seeking the advice of a professional.