I am in the market for a low cost conveyancer. Should I go for for a nationwide conveyancer rather than a high street Cardiff Bay conveyancing lawyer?
On the whole conveyancing practitioners in your location will enjoy excellent connections with your local authority, which can help with the Cardiff Bay conveyancing searches that your lawyer will inevitably need. It can only be a plus if they enjoy good rapport with the Land Registry overseeing your area Cardiff Bay, other lawyers in the area and Cardiff Bay Estate Agents.
Our conveyancer has identified a a problem with the lease for the flat we are buying in Cardiff Bay. The other side have put forward title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the bank is willing to move forward with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
I have been told that property searches are the primary reason for obstruction in Cardiff Bay conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Cardiff Bay.
four months have elapsed since my purchase conveyancing in Cardiff Bay took place. I have checked the Land Registry website which shows that I paid £175,000 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Cardiff Bay. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Cardiff Bay
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Cardiff Bay. I've chance upon a web site which looks to be the perfect answer If there is a chance to get all formalities completed via phone that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?