As someone not used to the Welshpool conveyancing process what is your top tip you can impart concerning the home moving process in Welshpool
Not many law firms or advisers will tell you this but conveyancing in Welshpool and elsewhere in Powys is an adversarial experience. Put another way, when it comes to conveyancing there exists plenty of opportunity for confrontation between you and others involved in the home moving process. E.g., the vendor, property agent and even potentially the bank. Appointing a lawyer for your conveyancing in Welshpool an important selection as your conveyancer is your adviser, and is the ONLY person in the legal process whose responsibility is to protect your legal interests and to keep you safe.
On occasion a potential adversary will attempt to persuade you that you should follow their advice. For example, the property agent may claim to be helping by suggesting your solicitor is wrong. Or your financial adviser may tell you to do take action that is against your conveyancers advice. You should always trust your lawyer above all other parties in the conveyancing process.
I have paid off my mortgage with Virgin Money. I assume I don't need a Welshpool lawyer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I am selling my flat. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, HSBC are being a right pain. The Welshpool solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I had an offer accepted on an apartment in Welshpool on 24/12/2018, valuation was booked 2 days later, all came back fine. Conveyancer instructed, so all that was missing was my mortgage offer. Having made daily calls to Skipton and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Skipton conveyancing panel. Are Skipton entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Welshpool. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Welshpool
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
What makes a Welshpool lease unmortgageable?
There is nothing unique about leasehold conveyancing in Welshpool. All leases are unique and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
Repairing obligations to or maintain elements of the premises Clauses dealing with recovering service charges for expenditure on the building or common parts.
You may have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, Virgin Money, and TSB all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to withdraw.
I own a ground floor flat in Welshpool, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Welshpool with over 90 years remaining are worth £227,000. The ground rent is £50 per annum. The lease expires on 21st October 2091
With only 72 years remaining on your lease we estimate the premium for your lease extension 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 renewing a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first seeking the advice of a professional.
If instructed can a conveyancer remove a person from the title of my property in Welshpool ?
Removing or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a property lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a lawyer