I have just been advised by my mortgage broker that my Pencader lawyer is not on the bank Conveyancing panel. What can I do to be sure if this is correct?
The first thing you need to do is to call your Pencader lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
I am about to exchange on the purchase of a property in Pencader but as a consequence of damage from some water damage at the property I have was able negotiate compensation from the seller of £2k by way of a deduction in the price. This was going to be dealt with as part of amending the contract however Coventry BS are not allowing this. Should they have been approached?
The lawyer being on a Coventry BS conveyancing panel is duty bound to disclose to Coventry BS of any amendments to the sale price. If you were to refuse your conveyancing practitioner to notify the price change to Coventry BS then they would have to discontinue acting for you. In addition, Coventry BS and you would have to appoint a new lawyer for your conveyancing in Pencader.
We wanted to use a property lawyer in Pencader for our house move. Our financial adviser informed us that our mortgage company Nottingham Building Society won't deal with them. Why is this not regarded as unfair competition?
Mortgage Companies in the main restrict either the category or the volume of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a law practice must not be a sole practitioner. In addition to restricting the type of firm, some have decided to limit the amount of firms they allow to represent them. You should note that Nottingham Building Society have no responsibility for the quality of advice provided by any member of Nottingham Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels since 2008 even though there remains differing views regarding the extent of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that hundreds of law firms, including some in or near Pencader only carry out very few conveyances per annum.
About to purchase a new build apartment in Pencader. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Pencader
Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I have been on the look out for a flat up to £195,000 and found one close by in Pencader I like with open areas and station in the vicinity, however it's only got 49 years unexpired on the lease. I can't really find anything else in Pencader suitable, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.