I was advised yesterday by my lender that my Felinheli property lawyer is not on the mortgage company Solicitor panel. What can I do to be certain if this is indeed the case?
You need to call your Felinheli conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
We are getting a further advance on our home loan from Co-operative as we intend to carry out alterations to our property in Felinheli. Do we need to select a high street Felinheli solicitor on the Co-operative conveyancing panel to deal with the legals?
Co-operative would not normally instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being problematic. The Felinheli solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Principality have agreed my mortgage in principle, my offer on a apartment in Felinheli has been agreed to, what are the next steps?
Your property agent will wish to know who your solicitors are (make sure the conveyancing practitioners are on the lender’s approved list). Telephone Principality or your broker and finish off any outstanding forms. Principality will sellect a valuer who will get in touch with the selling agent or vendor to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Principality will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Felinheli.
I was pointed in your direction by two or three local estate agents in Felinheli to find a solicitor on your site. What’s the financial upside for Estate Agents to recommend your site ahead of alternative conveyancing organisations?
We refuse to give any referral fee for pointing buyers and sellers to this site. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
As co-executor for the estate of my grandfather I am selling a property in Monmouth but I am based in Felinheli. My conveyancer (approximately 260 kilometers awayneeds me to execute a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in Felinheli to witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are Felinheli based
Do you have any top tips for leasehold conveyancing in Felinheli from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Felinheli can be avoided if you appoint lawyers the minute your agents start marketing the property and request that they start to put together the leasehold documentation which will be required by the buyers’ solicitors. The majority of landlords or Management Companies in Felinheli levy fees for supplying management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management pack sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Felinheli. If there is a history of conflict with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to reveal the dispute as historic rather than ongoing. You believe that you know the number of years remaining on your lease but you should double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is less than 80 years. It is therefore essential at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you hold a share in a the Management Company, you should ensure that you have the original share certificate. Obtaining a new share certificate can be a lengthy formality and slows down many a Felinheli home move. If a duplicate share is necessary, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
I am the registered owner of a 2 bed flat in Felinheli, conveyancing having been completed August 2008. How much will my lease extension cost? Equivalent properties in Felinheli with an extended lease are worth £181,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease runs out on 21st October 2070
With just 50 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.