I am purchasing a house for cash in Cardigan. I have been residing for the last 15 years in Cardigan. Conveyancing searches are exorbitant. As I have knowledge of the area and road intimately must I have all the conveyancing searches?
If you not getting a home loan, then all but one or two of the Cardigan conveyancing searches are non-obligatory. Your solicitor will 'advise', perhaps strongly, that you should have searches done, but she has a professional duty to take that path of advice. Do bear in mind; if you are intend to sell the house one day, it may be of importance to your prospective buyer what the searches contain. On occasion properties with day to day issues can still reveal adverse search results. A competent conveyancing solicitor in Cardigan will provide you some constructive advice in this regard.
I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Cardigan with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I'm the sole recipient of my late father’s estate with all property in now in my sole name, including the house in Cardigan. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my proprietorship will be considered the same way as though I had purchased the house in August. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. many banks would take a sensible view as this provision chiefly exists to identify the purchase and immediately sell or the flipping of properties.
When it comes to mortgage companies such as Nationwide, do Cardigan conveyancers have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We previously chose conveyancers locally in Cardigan on the Virgin Money solicitor approved list. They have just billed me a further sum for the legal aspects of the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner may levy a fee for this. This charge is not dictated by Virgin Money but by your Cardigan conveyancer. Some firms on the Virgin Money panel will quote an ‘acting for lender’ fee and others do not.
My cousin has suggested that I instruct his conveyancers in Cardigan. Do I take his recommendation?
There are no two ways about it the ideal way to choose a conveyancing solicitor is to get referrals from friends or relatives who have experience in using the firm that you are are thinking of instructing.
Last April I purchased a leasehold flat in Cardigan. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Cardigan - A selection of Queries before buying
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What prohibitions are contained in the Cardigan Lease? The answer will be helpful as a) areas may cause problems for the building as the communal areas may start to deteriorate if maintenance are not paid for b) if the leaseholders have a dispute with the managing agents you will need to have all the details What is the name of the managing agents?
Our offer on property in Cardigan has been accepted, but there is a chain. The owners have offered on a flat, however it’s not been accepted yet, and has viewings of other properties booked. I have selected a nearby conveyancing solicitor in Cardigan. What do I do now? When should I get the mortgage application with Nottingham going with Nottingham?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then valuation, Cardigan conveyancing search costs, etc). First, you should ensure that your conveyancing practitioner is on the Nottingham conveyancing panel. Concerning the next steps this very much dictated by the specifics of your case, desire for the property and on the state of the market. In a hot market many home buyers will apply for the mortgage with Nottingham and pay for the survey and only if it was satisfactory would they ask their conveyancer to press on with searches.