My wife and I are hoping to acquire a home in Wrington and have appointed a Wrington conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. The Royal Bank of Scotland have this afternoon contacted us to advise us that they have now hit a problem as our Wrington solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wrington lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am planning to move property in January. Will my conveyancing solicitor communicate with the removal company on the day of completion. As an aside, can you suggest a removal company in Wrington. Conveyancing firm was organised before I stumbled across your website.
On the day of completion you can pick up the keys from the selling agent but this can only be done after the sellers solicitors inform the agent that they have the completion monies and the keys can be handed over. After that you should advise the removal men that they can start moving you in. As a matter of policy we do not suggest a particular removal company but can help you locate a residential property solicitor in Wrington or a legal practice that specialises in conveyancing in Wrington.
I am buying a terrace house in Wrington. The intention is to an extension at the rear at the house.Will legal work on the property involve checks to see if these alterations are allowed?
Your solicitor will review the deeds as conveyancing in Wrington can sometimes reveal restrictions in the title documents which prevent categories of works or need the permission of another owner. Certain works need local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. It would be sensible to check these things with a surveyor before you commit yourself to a purchase.
I recently had an offer agreed on an apartment in Wrington. My mortgage broker suggested a property lawyer. I paid an advanced payment of £150. Not long after, the conveyancer contacted me to say that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
4 months have gone by since my purchase conveyancing in Wrington completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. 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.
How does conveyancing in Wrington differ for new build properties?
Most buyers of new build property in Wrington approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because developers in Wrington usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Wrington or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Wrington I like with open areas and railway links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Wrington in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to commence the lease extension formalities 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 consult your conveyancing solicitor concerning this.
I have just started marketing my 2 bed flat in Wrington. Conveyancing has not commenced, however I have just had a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is clear the maintenance contribution as normal because all rents and maintenance payments should be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless 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.
Wrington Leasehold Conveyancing - Sample of Questions you should ask before buying
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Are there any major works in the near future that will increase the maintenance charges? The answer will be important as a) areas could cause problems for the block as the common areas may begin to deteriorate if repairs remain unpaid b) if the leaseholders have a dispute with the managing agents you will need to have all the details How much is the annual service fee and ground rent?