The Llanishen conveyancing firm handling our Llanishen conveyancing has uncovered an inconsistency when comparing the surveyor’s assumptions in the home valuation survey and what is revealed within the conveyancing documents. My solicitor has advised that he needs to ensure that the lender is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
The Llanishen conveyancing lawyers that I recently instructed on my purchase in Llanishen have suddenly shut down. They were on acting for me because I needed a lawyer on the Nationwide conveyancing panel and my preferred Llanishen lawyer was not. I paid them 275 plus VAT on account. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
I have been told that property searches are the number one cause of hinderance in Llanishen house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Llanishen.
I have justbecome aware that Stirling Law have been shut down. They conducted my conveyancing in Llanishen for a purchase of a leasehold apartment 18 months ago. How can I be sure that my home is not still registered in the name of the former proprietor?
The easiest method to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Llanishen conveyancing specialists.
Estate agents have just been given the go-ahead to market my ground floor apartment in Llanishen. Conveyancing lawyers have not yet been instructed, but I have just received a yearly service charge invoice – what should I do?
It best that you discharge the service charge as normal given that all ground rent and maintenance invoices will be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies 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. This will smooth the conveyancing process.
I acquired a leasehold flat in Llanishen, conveyancing formalities finalised 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Llanishen with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £45 invoiced every year. The lease runs out on 21st October 2088
With just 67 years remaining on your lease the likely cost is going to range between £10,500 and £12,000 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first seeking the advice of a professional.