I can't travel far from Bridgend. I would like to know the reason why all Bridgend conveyancers aren't included on all bank panels?
Mortgage companies point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies pruning a number of firms from their books of approved solicitors .
My friend suggested that where I am purchasing in Bridgend I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Bridgend conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Bridgend around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bridgend Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Bridgend Education with plans and statistics, Local Amenities and other useful information concerning Bridgend.
four months have gone by following my purchase conveyancing in Bridgend concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build apartment in Bridgend. Conveyancing is necessary evil 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 few leasehold new build questions that you may expect your new-build leasehold conveyancing in Bridgend
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please confirm the Lease plans are architect prepared. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply a car parking plan.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Bridgend I like with a park and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Bridgend in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
In what way can the Landlord & Tenant Act 1954 impact my business property in Bridgend and how can you help?
The particular law that you refer to provides protection to business tenants, giving them the right to make a request to court for a renewal tenancy and remain in occupation at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Bridgend