In the event thatI were to acquire a freehold housein Lisvane mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Lisvane?
Any savings you would achieve would be limited to the Lisvane conveyancing searches. A lawyer still got to do everything else - money laundering, communicating with your vendors conveyancing practitioner, SDLT submission, register the ownership etc. A slight saving might be made by not having to register a mortgage but it will not be a lot.
I own a freehold property in Lisvane but still pay rent, why is this and what is this?
It’s unusual for properties in Lisvane and has limited impact for conveyancing in Lisvane but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
A colleague suggested that where I am purchasing in Lisvane I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Lisvane conveyancing searches. It is a large report of more than thirty pages, listing and detailing significant information about Lisvane around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Lisvane Education with maps and statistics, Local Amenities and other useful information concerning Lisvane.
I'm purchasing a new build house in Lisvane benefiting from help to buy. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent suggested that I not to tell my conveyancer about the deal as it would adversely affect my mortgage with Norwich and Peterborough Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey carried out on a property in Lisvane prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some lenders will not issue a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Birmingham Midshires. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lisvane. Conveyancing will be smoother if you use a solicitor in Lisvane especially if they are familiar with such properties in Lisvane.
My partner is purchasing a leasehold apartment in Lisvane. Conveyancing quotes are averaging around £1700. Does that seem right?
The average fee in 2014 for conveyancing in Lisvane was £1,419 excluding Land Tax and HM Land Registry fees.