I am considering applying for a Clydesdale mortgage for purchase of a new build (under development) in Narberth with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Clydesdale ?
In theory, you could use a solicitor that is not on the Clydesdale conveyancing panel, but Clydesdale would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
We had instructed solicitors based in Narberth on the Principality solicitor approved list. They are now charging me an additional fee for dealing with the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancer is entitled to levy a fee for this. The charge is not dictated by Principality but by your Narberth property lawyer. Plenty of firms on the Principality panel will charge ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
We expect to receive a OIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Virgin Money recommend any Narberth solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Narberth solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
Intending to buy a maisonette in Narberth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Narberth lawyer is on the Skipton conveyancing panel.
4 months have gone by following my purchase conveyancing in Narberth completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Narberth is the location of the property. Can you offer any assistance?
Flying freeholds in Narberth are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Narberth 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 Narberth 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 residence.
In what way can the Landlord & Tenant Act 1954 affect my commercial property in Narberth and how can you help?
The 1954 Act affords a safeguard to business tenants, granting the legal entitlement to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Narberth is one of the numerous areas of the UK in which the firms we work with are located