My husband and I are buying a 1 bedroom flat in Pentyrch with a mortgage. We like our Pentyrch solicitor, however the lender says she’s not on their "panel". It appears that we have little choice but to use one of the bank panel conveyancing practices or continue with our Pentyrch solicitor as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Pentyrch conveyancing solicitor to apply to be on the conveyancing panel.
The Pentyrch conveyancing firm handling our Pentyrch conveyancing has identified an inconsistency when comparing the assumptions in the valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your solicitor 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.
I need to instruct a conveyancing solicitor in Pentyrch for my purchase. Is it possible to see a firm’s record with the profession’s regulator?
One can search for documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The SRA could recorded telephone calls for training reasons.
I've recently bought a leasehold flat in Pentyrch. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 2 bed flat in Pentyrch, conveyancing was carried out July 2005. Can you work out an approximate cost of a lease extension? Similar properties in Pentyrch with over 90 years remaining are worth £227,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2090
With only 71 years remaining on your lease the likely cost is going to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more detailed due diligence. 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 taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.
What type of premises does your Pentyrch conveyancing estimates apply to?
The quotes issued are only relevant to standard domestic homes in England & Wales. Where you have any different needs such as industrial or agricultural property or commercial conveyancing in Pentyrch you should telephone us to discuss this further .