Do the conveyancing solicitors that you recommend handle auction conveyancing in Cardiff Bay?
There are a number of niche practitioners we can connect you with those conducting auction conveyancing. Cardiff Bay is one of the many locations where our lawyers have a presence.
How do I find out if the solicitor handling my conveyancing in Cardiff Bay is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Halifax thus spending £175.00 in supplemental legal bill.
Please do take advantage of the search tool on this site. Pick the lender and type ‘Cardiff Bay’ or your location and you will be presented with a number of lawyer offices in Cardiff Bay or nearest you.
About to purchase a new build apartment in Cardiff Bay. Conveyancing is daunting 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 conveyancing.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Cardiff Bay
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. Please confirm the Lease plans are surveyor prepared.
Over the last few months I have been searching for a flat up to £245,000 and identified one close by in Cardiff Bay I like with open areas and railway links nearby, however it only has 49 years on the lease. There is not much else in Cardiff Bay for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a home loan the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you may request that they start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
My husband and I are FTB’s - agreed a price, but the estate agent advised that the owners will only go ahead if we use the agent's chosen lawyers as they need a ‘quick sale’. My instinct tells me that we should use a family conveyancer used to conveyancing in Cardiff Bay
We suspect that the owner is unaware of this demand. Should the seller require ‘a quick sale', alienating a genuine buyer is not the way to achieve this. Avoid the agents and go straight to the owners and make the point that (a)you are motivated buyers (b)you are ready to progress, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to instruct your own,trusted Cardiff Bay conveyancing solicitors - as opposed tothose that will give the negotiator at the agency a referral fee or hit his conveyancing targets pre-set by head office.
What makes a Cardiff Bay lease problematic?
There is nothing unique about leasehold conveyancing in Cardiff Bay. All leases are drafted differently and drafting errors can result in certain provisions are not included. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Insurance obligations
You will encounter a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Santander, The Royal Bank of Scotland, and Britannia all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
Leasehold Conveyancing in Cardiff Bay - A selection of Queries Prior to Purchasing
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Are any of leasehold owners in dispute over their service charge liability? Its a good idea to discover as much as possible regarding the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to practical issues like the upkeep of the common parts. Enquire of other tenants what they think of them. In conclusion, be sure you know the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. The prefered form of lease arrangement is a share of the freehold. In this situation the lessees enjoy control and notwithstanding that a managing agent is usually retained where the building is bigger than a house conversion, the managing agent employed by the leaseholders.