My wife and I are looking to purchase a property in Trearddur Bay and are in fact using a Trearddur Bay conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nationwide Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Trearddur Bay conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Trearddur Bay lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Can the conveyancing solicitors identified through your search tool execute auction conveyancing in Trearddur Bay?
There are a number of niche solicitors we can put you in touch with those conducting auction conveyancing. Trearddur Bay is just one of the many areas of in which our lawyers have a presence.
I need to instruct a conveyancing practitioner in Trearddur Bay for my remortgage. Can I see a firm’s record with the legal regulator?
You may search for presented Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training purposes.
I own a leasehold house in Trearddur Bay. Conveyancing and Barclays mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Trearddur Bay who previously acted has long since retired. What should I do?
The first thing you should do is contact HMLR to make sure that this person is indeed the registered owner of the freehold reversion. You do not need to instruct a Trearddur Bay conveyancing practitioner to do this as you can do this on the Land Registry website for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a ground floor flat in Trearddur Bay, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Trearddur Bay with a long lease are worth £211,000. The ground rent is £50 levied per year. The lease ends on 21st October 2087
With only 68 years unexpired the likely cost is going to span between £9,500 and £11,000 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
Me and my wife have recently had an offer agreed on a apartment and had meeting on Monday with the Post Office for the mortgage. They warned us that when it comes to selecting a property lawyer that unless they are on their approved list of conveyancers then we will have to pay out an extra fee of £250+. This is because they will then have to appoint a property lawyer to act on their behalf as well as the one we select on our behalf and we assume responsibility for their costs. I have asked the Post Office to supply me with a list so I can seek estimates only from their approved solicitors but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a simple way of finding out who is on a lender panel?
You should ask the Post Office what their panel criteria is for a solicitor.Thereafter ask the property lawyer of your choice whether they fit that criteria and have they acted on loans for the Post Office previously. If the answer to those is yes, then just double check with the Post Office. Another option is to make use of our search tool and we should be able to locate a lawyer in Trearddur Bay on the approved list for the Post Office.