We are purchasing a newly built flat in Llanfyrnach and my solicitor is informing me that she is duty bound to the bank to reveal incentives from the seller. I am on a tight deadline to exchange contracts and I would rather not delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Can you explain why leasehold purchase conveyancing in Llanfyrnach is more expensive?
In summary, leasehold conveyancing in Llanfyrnach and Pembrokeshire usually warrants additional work compared to freehold transactions. This includes analysing the lease terms, liaising with the landlord concerning serving applicable notices, procuring current service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.
is it true that all Llanfyrnach solicitor practices on the Coventry BS conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be governed by the SRA. Some banks do permit licenced conveyancers on their panel and in such a situation the practice would be regulated by the CLC.
Can I be sure that the Llanfyrnach conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Llanfyrnach getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the lawyer carrying out your conveyancing.
I have today made my last payment due on my mortgage with Virgin Money. I assume I don't need a Llanfyrnach conveyancer on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Llanfyrnach is the location of the property. Can you offer any advice?
Flying freeholds in Llanfyrnach are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Llanfyrnach you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llanfyrnach may determine 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.
I need to instruct a conveyancing solicitor in Llanfyrnach for my house move. Is there any facility to review a solicitor's record with the legal regulator?
You may find published Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training requirements.