I am buying a new build flat in Llandaff. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Llandaff you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Llandaff.
I'm purchasing my first flat in Llandaff with a loan from The Mortgage Works. The builders would not reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about this side-deal as it could affect my mortgage with the lender. 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.
Over the last few months I have been searching for a flat up to £305k and found one close by in Llandaff I like with a park and station in the vicinity, however it's only got 61 years unexpired on the lease. I can't really find anything else in Llandaff in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan that many years will 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 a minimum of 2 years you may ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
My husband and I are 18 days into a freehold purchase having been recommend to a firm by the estate agent to carry out the conveyancing in Llandaff. We are not happy. Can you help me find new conveyancers?
A solicitor would need to be really bad to suggest diss instructing them. Has the mortgage been issued? If so you need to advise them of the new conveyancer and ensure the loan are re-issued. Your new solicitor ideally needs to be on the banks approved list to avoid added costs and complications. That should be your first question of the new lawyers. Our search tool will help you find a lender approved solicitor for your conveyancing in Llandaff
I am hoping to put an offer on a small detached house that seems to meet my requirements, at a great price which is making it all the more appealing. I have subsequently discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Llandaff. Conveyancing advisers have not yet been instructed. Will they explain the issues?
Most houses in Llandaff are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Llandaff in which case you should be shopping around for a Llandaff conveyancing solicitor and check that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your conveyancer will advise you fully on all the issues.
I invested in buying a 1 bedroom flat in Llandaff, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Llandaff with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 levied per year. The lease ends on 21st October 2079
You have 59 years unexpired we estimate the price of your lease extension to range between £20,900 and £24,200 as well as costs.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
Please set a few of compelling advantages to choosing a high street conveyancing practitioner in Llandaff
Lots of house movers in Llandaff prefer a nearby high street property lawyer so that they can pop into the lawyer’s offices just in case they have questions, and to deliver paperwork rather taking the chance in depending on the Royal Mail.
There is a slight advantage when using a conveyancer local to a property you are hoping to purchase, due to the knowledge of the area and potential local issues - nevertheless this is moot. Many conveyancers are now through email and could be practically anywhere.