I am getting a offer of a home loan from Lloyds. I intend to retain the legal services of a Licensed Conveyancer in St Asaph. Does the Lloyds Solicitor panel exclude conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
I happen to be the only recipient of my late father’s estate and I have everything in my name now, including the house in St Asaph. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the house. I do know about the CML six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the property in January. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. many mortgage companies would take a pragmatic view as this clause is primarily there to identify subsales or the quick reselling of property.
I was told three weeks ago that my mortgage has been agreed to by Co-operative. Is it usual for Co-operative to only issue the offer once my solicitor in St Asaph is approved on their conveyancing panel? Co-operative have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
Clydesdale have agreed my home loan in principle, my bid on a property in St Asaph has been agreed to, what happens next?
Your estate agent will need to know who your solicitors are (make sure the conveyancing practitioners are on the bank’s panel). Contact Clydesdale or your financial adviser and finish off any relevant documentation. Clydesdale will appoint a valuer who will get in contact with the selling agent or vendor to schedule a slot for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Clydesdale will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in St Asaph.
I completed on my home on 6 July and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in St Asaph expressed confidence that it should be recorded in less than a month. Are properties in St Asaph uniquely lengthy to register?
As far as conveyancing in St Asaph registration is no faster or slower than the rest of the country. Rather than based on location, timescales can vary depending on who lodges the application, whether it is in order and if the Land registry communicate with any third parties. Currently roughly three quarters of such applications are fully addressed in less than three weeks but some can be subject to extensive delays. Historically registration takes place once the new owner is living at the property so 'speed' is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.
I have been on the look out for a ground for flat up to £245,000 and found one near me in St Asaph I like with amenity areas and station in the vicinity, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in St Asaph for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a home loan that many years will likely be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
As co-executor for the estate of my aunt I am selling a property in Neath but live in St Asaph. My lawyer (approximately 300 kilometers from merequires that I sign a stat dec before the transaction finalising. Can you recommend a conveyancing lawyer in St Asaph who can attest and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are located in St Asaph