I plan on buying a maisonette in Cardiff. My lawyer has never been on on the lender conveyancing list. Is it possible for me to continue with my Cardiff conveyancing solicitor even though they are excluded from the mortgage company list of approved lawyers?
You have a couple of options available to you here
- Complete the deal with your existing Cardiff lawyer but your mortgage company will no doubt use a conveyancer from their approved panel. The net result is additional fees together with potential frustration.
- Choose a new property lawyer to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Convince your lawyer to attempt to join the bank panel
We have rather pushy sellers who has recommended a lock out agreement with a down payment 6,000. Are such agreements sensible?
This type of arrangement isn't common in Cardiff, conveyancers will often sway clients away from them as they detract from focusing on the main conveyancing focus and if you end up having your deposit forfeited then the solicitor is left exposed. Secondly, there is no assurance that just because the seller has executed an exclusivity agreement they will sell to you. They may be in contravention of the agreement if they receive a large enough offer to do so because an aggrieved buyer with the benefit of a lockoutcontract will still be obliged establish consequential losses from the breach and these may not equalise the extra amount that your seller may secure by breaching the agreement, however morally unworthy that may be.
Our lender has recommended solicitors on their panel based in Cardiff but I would rather choose a conveyancing lawyer in Cardiff local to me. Are you able to assist?
Far from all Cardiff conveyancing firms are listed all banks conveyancing panel. Do make the most of the above find an approved solicitor tool to locate a Cardiff conveyancing firm on the on the lender panel.
How does conveyancing in Cardiff differ for new build properties?
Most buyers of new build premises in Cardiff approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Cardiff typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cardiff or who has acted in the same development.
I have been sourcing a conveyancing solicitor in Cardiff for my remortgage. Is there any facility to check a firm’s record with the legal regulator?
You can see documented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find records Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA may recorded call for training reasons.
What makes a Cardiff lease defective?
Leasehold conveyancing in Cardiff is not unique. All leases are unique and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Santander, Leeds Building Society, and Aldermore all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the buyer to withdraw.
I bought a 1st floor flat in Cardiff, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Cardiff with an extended lease are worth £185,000. The ground rent is £65 charged once a year. The lease terminates on 21st October 2084
You have 60 years remaining on your lease we estimate the premium for your lease extension to be between £20,000 and £23,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.