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Find a Aberystwyth Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Aberystwyth? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Aberystwyth transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Aberystwyth conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Aberystwyth

I am in the process of selling my maisonette in Aberystwyth and the EA has just called to say that the buyers are appointing a new property lawyer. The excuse is that the mortgage company will only work with property lawyers on their approved list. Why would a leading lender only deal with certain lawyers rather the firm that they want to select for their conveyancing in Aberystwyth ?

Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.

Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.

I am buying a new build flat in Aberystwyth. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?

Leaving aside the complexities and merits of DIY conveyancing in Aberystwyth you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Aberystwyth.

I need to find a conveyancing solicitor for residential conveyancing in Aberystwyth. I have discover a web site which seems to have the perfect answer If there is a chance to get all the legals completed via web that would be ideal. Do I need to be wary? What are the potential pitfalls?

As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?

I am looking at a couple of maisonettes in Aberystwyth which have in the region of forty five years unexpired on the lease term. Do I need to be concerned?

There is no doubt about it. A leasehold apartment in Aberystwyth is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it reduces the marketability of the premises. The majority of buyers and mortgage companies, leases with less than 75 years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Aberystwyth conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

I acquired a split level flat in Aberystwyth, conveyancing was carried out 7 years ago. Can you work out an approximate cost of a lease extension? Similar flats in Aberystwyth with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease runs out on 21st October 2081

With only 60 years left to run the likely cost is going to be between £20,000 and £23,000 as well as professional fees.

The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.

After what seems like an age I have had an offer on an apartment in Aberystwyth accepted, but there is a chain. The sellers have put an offer on a property, but it’s not yet tied up, and are looking at other flats booked. I have instructed a local conveyancing lawyer in Aberystwyth. What do I do now? At what point should I apply for the mortgage with Barclays?

It is standard to have anxieties where there is an associated chain as you are unlikely to want to be too out of pocket prematurely (home loan application is approx one thousand pounds, then survey, Aberystwyth conveyancing search costs, etc). The first course of action is to check that your property lawyer is on the Barclays approved list. Regarding the subsequent phase this very much dictated by the specifics of your transaction, desire for the property and on the state of the market. During a rising market the majority of home buyers will apply for a home loan with Barclays and pay for the survey and only if it comes back ok would they ask their solicitor to press on with the conveyancing in Aberystwyth.

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