Completed the sale of my flat in Llangammarch Wells last October but my buyer keeps whats apping me to say their conveyancer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Following your disposal your lawyer should deliver the transfer documentation and all additional paperwork to the buyer’s solicitors. Depending on the transaction, your conveyancer should also confirm that the legal charge in favour of the lender has been paid off to the buyers lawyers. There is unlikely to be post completion procedures just for conveyancing in Llangammarch Wells.
My uncle passed away six months ago and as sole heir and executor I was left the property in Llangammarch Wells. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then Principality will insist on your using a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Llangammarch Wells conveyancer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Llangammarch Wells off the council. I have a mortgage agreed with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
Intending to buy a house in Llangammarch Wells. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Llangammarch Wells property lawyer is on the UBS conveyancing panel.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Llangammarch Wells is where the house is located. Can you offer any advice?
Flying freeholds in Llangammarch Wells are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Llangammarch Wells you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llangammarch Wells may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Llangammarch Wells and how can your lawyers assist?
The particular law that you refer to provides a safeguard to business lessees, granting the right to apply to court for a new tenancy and remain in occupation at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Llangammarch Wells is one of our hundreds of locations in which our lawyers are located
Can you provide any top tips for leasehold conveyancing in Llangammarch Wells with the intention of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Llangammarch Wells can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to put together the leasehold information which will be required by the purchasers’ representatives. The majority of landlords or managing agents in Llangammarch Wells levy fees for supplying management packs for a leasehold property. You or your lawyers should enquire as to the actual amount of the charges. The management information sought as soon as you have a buyer, thus accelerating the process. The typical amount of time it takes to receive management information is three weeks. It is the most common reason for delay in leasehold conveyancing in Llangammarch Wells. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale. A minority of Llangammarch Wells leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers.
I acquired a 1 bedroom flat in Llangammarch Wells, conveyancing formalities finalised 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Similar properties in Llangammarch Wells with a long lease are worth £216,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2095
With only 69 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.