My Llandaff lawyer has uncovered an inconsistency when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer has advised that he needs to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
A relative suggested that if I am buying in Llandaff I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Llandaff conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Llandaff around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Llandaff Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information about Llandaff.
About to purchase a new build flat in Llandaff. Conveyancing is a frightening process 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 conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Llandaff
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants.
I am looking for a flat up to £305k and found one round the corner in Llandaff I like with a park and transport links nearby, however it only has 49 years unexpired on the lease. There is not much else in Llandaff for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the remaining unexpired lease term will be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
How does the Landlord & Tenant Act 1954 affect my commercial offices in Llandaff and how can your lawyers assist?
The particular law that you refer to provides a safeguard to business lessees, giving them the a statutory right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Llandaff is one of the numerous locations in which the firms we work with are based
I own a leasehold house in Llandaff. Conveyancing and Clydesdale mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1997. The conveyancing solicitor in Llandaff who acted for me is not around. Do I pay?
The first thing you should do is contact HMLR to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to instruct a Llandaff conveyancing lawyer to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Llandaff Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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How long is the Lease? The best form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently employed if the building is larger than a house conversion, the managing agent is directed by the tenants.