We are purchasing a 2 bedroom apartment in Lampeter with a mortgage. We wish to retain our Lampeter solicitor, but the lender says he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Lampeter lawyer and pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower 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 Lampeter conveyancing solicitor to apply to be on the conveyancing panel.
I am hoping to move into my new home in Lampeter next Monday. My conveyancer now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the lender expect the insurance to cover?
All property lawyers on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These requirements are not unique to conveyancing in Lampeter.
I purchased a freehold premises in Lampeter yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Lampeter and has limited impact for conveyancing in Lampeter but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
The deeds to our house are lost. The conveyancers who did the conveyancing in Lampeter 10 years ago no longer exist. What are my next steps?
In today’s world there are copies made of almost everything, and your solicitor should be aware exactly where to find all the appropriate paperwork so you may purchase or sell your property without any difficulty. If duplicates can’t be found, your lawyer can arrange cover in the form of insurance or indemnities against possible claims on the premises.
About to purchase a new build apartment in Lampeter. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Lampeter
Forfeiture - bankruptcy or liquidation must not apply under this provision. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.