We are hoping to buy a 2 bedroom flat in Dyffryn Ardudwy with a mortgage. We would like to retain our Dyffryn Ardudwy lawyer, but the bank says she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Dyffryn Ardudwy lawyer and pay for one of their panel ones to act for them. This seems very unfair; can we not require that the mortgage company use our Dyffryn Ardudwy conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Dyffryn Ardudwy conveyancing solicitor to apply to be on the conveyancing panel.
The Dyffryn Ardudwy conveyancing lawyers that I recently instructed on my purchase in Dyffryn Ardudwy have suddenly closed. I chose them because I had to have a firm on the Nottingham conveyancing panel and my previous Dyffryn Ardudwy lawyer was not. I paid them money on account. What should be my next steps?
If you have an estate agent involved then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
I am looking for a flat up to £235,500 and found one close by in Dyffryn Ardudwy I like with amenity areas and station in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Dyffryn Ardudwy in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Back In 2003, I bought a leasehold flat in Dyffryn Ardudwy. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1991. The conveyancing practitioner in Dyffryn Ardudwy who acted for me is not around. What should I do?
First contact the Land Registry to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. There is no need to incur the fees of a Dyffryn Ardudwy conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a 1 bedroom flat in Dyffryn Ardudwy, conveyancing was carried out June 1998. How much will my lease extension cost? Corresponding flats in Dyffryn Ardudwy with an extended lease are worth £179,000. The ground rent is £65 per annum. The lease ceases on 21st October 2082
With only 57 years unexpired we estimate the premium for your lease extension to be between £26,600 and £30,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.
Been reading online that Dyffryn Ardudwy solicitors are more expensive than licensed conveyancers in Dyffryn Ardudwy to use when purchasing a house. So is it better if I use a conveyancer or a solicitor if I am buying for my home move in Dyffryn Ardudwy.
When it comes to conveyancing in Dyffryn Ardudwy the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.