My wife and I purchasing a terrace house in Bargoed. We would like to carry out an extension to the side at the house.Will the conveyancing process include enquiries to see if these alterations are prohibited?
Your conveyancer will check the deeds as conveyancing in Bargoed will occasionally reveal restrictions in the title deeds which prohibit certain works or need the permission of a 3rd party. Some extensions need local authority planning permissions and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
My wife and I are in the process of viewing flats in Bargoed and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Virgin Money.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are taking out a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
I recently had an offer accepted on an apartment in Bargoed. My financial adviser pressured me to appoint their conveyancer. I paid an upfront payment of £200. Not long after, the conveyancer called me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I got the keys to my flat on 9 March and the transaction details are still not registered. Any reason for this? My conveyancing solicitor in Bargoed expressed confidence that it would be dealt with in a couple of weeks. Are transfers in Bargoed particularly slow to register?
There is nothing unique about conveyancing in Bargoed registration formalities. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. At present approximately three quarters of such applications are completed within 12 days but some can be subject to protracted hold-ups. Registration occurs after the new owner is living at the premises so post completion formalities is not always top priority but if there is a degree of urgency associated with the registration then you or your lawyers could speak with the land registry and explain the circumstances.
I am purchasing my first flat in Bargoed with a mortgage from Bank of Ireland. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The property agent advised me not reveal to my conveyancer about this side-deal as it may affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a flat up to £245,000 and found one close by in Bargoed I like with open areas and station in the vicinity, however it's only got 52 remaining years left on the lease. I can't really find anything else in Bargoed suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
We're new on the property ladder - had an offer accepted, but the estate agent has warned us that the vendor will only go ahead if we appoint the agent's preferred lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a local conveyancer used to conveyancing in Bargoed
We suspect that the seller is unaware of this request. Should the owner desire ‘a quick sale', alienating a motivated buyer is not the way to achieve this. Bypass the agents and go straight to the owners and make sure they understand (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)however you intend to use your preferred Bargoed conveyancing firm - as opposed tothose that will give the estate agent a commission or hit his conveyancing figures pre-set by senior management.
I am a negotiator for a reputable estate agency in Bargoed where we have witnessed a few leasehold sales derailed due to leases having less than 80 years remaining. I have received inconsistent advice from local Bargoed conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Bargoed - Sample of Questions you should consider Prior to buying
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What is the maintenance charge and ground rent on the apartment? It would be a good idea to find out if there are any onerous restrictions in the lease. For example it is fairly common in Bargoed leases that pets are not allowed in in a block in Bargoed. If you love the propertyin Bargoed but your cat is not allowed to move with you then you will be faced hard compromise. For many Bargoed leaseholds the outlay for major works tend not to be included within maintenance charges, albeit that a few managing agents in Bargoed require leaseholders to contribute towards a reserve fund created for the specific purpose of building a fund for major works.