I am the single recipient of my late grandmother’s estate and I have everything in my name alone, including the my former home in Builth Wells. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the property in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view banks take of it, depend on the lender as this requirement is primarily there to pick up on subsales or the wholesaling and assigning of property.
Is it correct that all Builth Wells CQS (Conveyancing Quality Scheme) solicitors are on the TSB conveyancing list of approved firms?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
About to purchase house in Builth Wells. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Builth Wells lawyer is on the Bank of Ireland conveyancing panel.
I used Wolstenholmes a few years past for my conveyancing in Builth Wells. I now require my papers but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Builth Wells of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a quick, no chain conveyancing. Builth Wells is where the house is located. Is there any advice you can give?
Flying freeholds in Builth Wells are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Builth Wells you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Builth Wells 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 property.
What advice can you give us when it comes to choosing a Builth Wells conveyancing firm to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Builth Wells conveyancing firm) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We suggest that you speak with several firms including non Builth Wells conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions might be useful:
How many lease extensions has the firm conducted in Builth Wells in the last year? Can they put you in touch with clients in Builth Wells who can give a testimonial?
I acquired a basement flat in Builth Wells, conveyancing formalities finalised 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Builth Wells with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2089
With only 71 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should 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.
My plan is to purchase a ground floor maisonette in Builth Wells. Conveyancing solicitor has been awaiting, from the seller, building insurance paperwork. I was told today I was advised that the vendor must forward the insurance schedule for the flat above also. Why would my lawyer want to check the insurance for the other flat? Is it strictly required? We have been stalled for the previous fortnight…
It is not unheard of in leasehold conveyancing in Builth Wells to discover Conveyancing in Builth Wells in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats as opposed to the landlord insuring the whole building - which is clearly better. Do check with your lawyer but it would seem that your solicitor is seeking to establish that the complete building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be reconstructed due to lack of insurance.