My IFA requires my Newtown law firm’s panel member for the Nationwide conveyancing panel. How do I find this out. I have e-mailed my local Newtown office but they don't know it.
You are best placed to get this information from your Newtown property lawyer . They keep a central record lender panel numbers.
4 months have gone by following my purchase conveyancing in Newtown took place. I have checked the Land Registry site 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 issue on a property I have offered on two weeks back in what should have been a simple, no chain conveyancing. Newtown is where the house is located. Can you shed any light on this issue?
Flying freeholds in Newtown are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newtown you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newtown 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 premises.
I have been recommended by numerous property agents in Newtown to locate a conveyancer using your seach tool. Is there a financial inducement for Estate Agents to offer your lawyers rather than another?
We refuse to offer any referral fee for pointing buyers and sellers our way. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I have just started marketing my garden flat in Newtown. Conveyancing solicitors are to be appointed soon, however I have just had a yearly maintenance charge invoice – what should I do?
The sensible thing to do is clear the invoice as usual as all ground rent and maintenance charges will be apportioned on completion, so you should recover the relevant percentage 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 unless 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 purchased a 2 bed flat in Newtown, conveyancing having been completed 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Newtown with an extended lease are worth £190,000. The ground rent is £45 yearly. The lease ends on 21st October 2081
You have 62 years unexpired we estimate the price of your lease extension to range between £17,100 and £19,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.