Can you clarify what the consequences are if my lawyer’s firm is suspended from the Clydesdale Conveyancing panel ahead of completing my conveyancing in Fishguard?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Fishguard is where the house is located. Can you offer any opinion?
Flying freeholds in Fishguard are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fishguard 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 Fishguard 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.
Is it simple use the search facility to select a conveyancing lawyer in Fishguard on the panel for my bank?
First pick a lender such as Halifax, The Mortgage Works or Alliance & Leicester then choose your location a common one being Fishguard. Conveyancing firms in Fishguard and beyond should be listed.
I’m about to sell my 2 bed flat in Fishguard. Conveyancing has not commenced, but I have just received a half-yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as usual because all rents and maintenance invoices will be allotted on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I purchased a leasehold flat in Fishguard, conveyancing was carried out in 1999. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Fishguard with an extended lease are worth £202,000. The average or mid-range amount of ground rent is £60 invoiced every year. The lease comes to an end on 21st October 2076
You have 57 years remaining on your lease the likely cost is going to span between £28,500 and £33,000 as well as professional fees.
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 investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
My fiance and I are buying a four bedroom apartmentin Fishguard with a loan from a lender. We have selected a solicitor in Fishguard but our bank says she’s not on their "panel". Apparently we need to choose from the our lender panel firms or keep our Fishguard conveyancer and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The bank mortgage issued is subject to its terms and conditions, one of which will be that solicitors will on the bank's conveyancing panel. Until recently, most banks had large numbers of law firms on their panels, including many conveyancing solicitors in Fishguard : a mortgagee 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for your mortgage company.