My wife and I are looking to buy a home in Ross On Wye and have appointed a Ross On Wye conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Godiva Mortgages Ltd have this afternoon contacted us to advise us that there is now an issue as our Ross On Wye solicitor is not on their conveyancing panel. Is this a problem?

When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for 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 solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Ross On Wye solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.

Do I select a Licenced Conveyancer or Solicitor for conveyancing in Ross On Wye?

There are many registered licenced Conveyancers in Ross On Wye and Solicitor firms in Ross On Wye to choose from It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

Can I be sure that the Ross On Wye conveyancing solicitor on the Nottingham panel is any good?

When it comes to conveyancing in Ross On Wye obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your conveyancing.

I had an offer accepted on a property in Ross On Wye on 8/10/2024, valuation was booked 4 days after, all came back fine. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Leeds Building Society and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Leeds Building Society conveyancing panel. Can the lender hold off the offer?

Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.

I have todaybeen informed that Action Conveyancing have closed. They conducted my conveyancing in Ross On Wye for a purchase of a leasehold apartment 18 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?

The easiest way to check if the property is registered to you, 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 Ross On Wye conveyancing specialists.

I am buying a new build flat in Ross On Wye. 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.

Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Ross On Wye

The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.

I am on look out for some leasehold conveyancing in Ross On Wye. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.

If the lease is recorded at the land registry - and 99.9% are in Ross On Wye - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

I purchased a split level flat in Ross On Wye, conveyancing formalities finalised in 2011. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Ross On Wye with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2079

With just 55 years unexpired we estimate the price of your lease extension to span between £31,400 and £36,200 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do 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. Neither should you move forward placing reliance on this information before seeking the advice of a professional.