We were just about to sign contracts for a semi detached house in Adamsdown. We have hit a stumbling block. The loan offer with Platform Home Loans Ltd expires on 8/3/2021 but the sellers are suggesting a completion date of 10/3/2021. Is it possible to extend the loan offer?
The person best placed to address this issue is your lawyer who should calculate whether they better off negotiating with the mortgage company, seller’s lawyers, selling agents or possibly all parties given the circumstances your house move to date.
Is there a reason why leasehold purchase conveyancing in Adamsdown costs more?
In summary, leasehold conveyancing in Adamsdown and Cardiff usually warrants extra due diligence compared to freehold transactions. This includes lease investigation, communicating with the landlord about serving required notices, obtaining up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
I am assisting my niece sell her house in Adamsdown. Will the solicitor commission the energy assessment or it is for me to coordinate?
Following the demise of Home Information Packs, EPC’s was retained a mandatory component of moving house. An energy assessment must be to hand prior to the property being marketed. This is not as aspect of the sale process that law firms ordinarily organise. If you are instructing a Adamsdown conveyancing lawyer they may be willing to arrange EPC’s given their relationships with long established local providers
Completion of my remortgage has taken place for my property in Adamsdown. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I was told two weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Adamsdown is approved on their conveyancing panel? RBS 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 RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
What will a local search reveal about the house we're buying in Adamsdown?
Adamsdown conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example PSG The local search is essential in every Adamsdown conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Adamsdown. Conveyancing solicitors have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Adamsdown ?
The majority of houses in Adamsdown are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Adamsdown in which case you should be shopping around for a Adamsdown conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the unexpired lease term. As a leaseholder you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example obtaining the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.
I purchased a garden flat in Adamsdown, conveyancing formalities finalised in 1999. Can you please calculate a probable premium for a statutory lease extension? Corresponding flats in Adamsdown with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 per annum. The lease terminates on 21st October 2087
With 66 years remaining on your lease we estimate the price of your lease extension to range between £11,400 and £13,200 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before getting professional advice.
My solicitors in Adamsdown have advised me that no longer have my conveyancing file. To assist with my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the mortgage company Conveyancing Panel Terms. It might be worth you contacting the lender directly.