I am hoping to receive a mortgage offer from Lloyds. I hope to instruct a Licensed Conveyancer in Tredegar. Does the Lloyds Conveyancing panel allow for Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Do lenders provide you with an approved list of Tredegar conveyancing solicitors? How do you know who is on the Co-operative conveyancing panel?
Tredegar conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
My wife and I own a terraced Victorian property in Tredegar. Conveyancing practitioner represented me and Platform Home Loans Ltd. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tredegar and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing practitioner who conducted the work.
Over the last few months I have been searching for a ground for flat up to £305k and identified one round the corner in Tredegar I like with open areas and railway links in the vicinity, the downside is that it only has 61 years unexpired on the lease. There is not much else in Tredegar suitable, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan the shortness of the lease will be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
Should I be suspicious by estate agents that I am dealing with are suggesting a national conveyancing firm as opposed to a High Street Tredegar conveyancing practice?
As with many service providers, often suggestions from family and friends can be most helpful. Yet there are many players in a conveyancing deal; estate agents, financial adviser and lenders might all suggest lawyers to select. Sometimes the lawyers might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You have the right to choose your preferred lawyer. Don't forget that many mortgage providers operate an approved list of law firms you must use for the lender related work in your transaction.