After what seems like an age a mortgage offer from Santander for the refinancing of my 2 room flat is due any day now. Are you able to suggest a low cost conveyancing law firm in Monmouthshire?
This site is not designed to aid those in pursuit of the cheapest conveyancing solicitors in Monmouthshire. Our goal is to offer value for money conveyancing but our intention is not to advertise as being the cheapest. Avoid the trap of appointing brokers teasing you with low cost conveyancing in Monmouthshire. In your best case scenario, in going for low cost conveyancing, you will end up with what you pay for and at worst it will result in you spending a lot in extras and still not get the service expected.
Is there a reason why leasehold purchase conveyancing in Monmouthshire costs more?
Monmouthshire leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We're in Monmouthshire, First timers buying with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am buying my first flat in Monmouthshire benefiting from help to buy. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent advised me not inform my lawyer about this deal as it could put at risk my loan with Leeds Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Am I better off to use a Monmouthshire conveyancing solicitor who is local to the property I am buying? An old friend can handle the legal work however his firm is located 200kilometers drive away.
The benefit of a high street Monmouthshire conveyancing firm is that you can pop in to sign documents, hand in your identification documents and apply pressure on them if necessary. Having local Monmouthshire know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were happy that must outweigh using an unfamiliar Monmouthshire conveyancing lawyer just because they are local.
I own a leasehold flat in Monmouthshire. Conveyancing was finalised in 2009. I have read on various consumer forums that I mustn’t allow the lease length fall too short. What is the reasoning?
Monmouthshire domestic long term leases are for a set term - normally just under one hundred years when they are first granted. However a significant flats in Monmouthshire were constructed or converted in the 70’s80’s and so these leases now have less than eighty years left to run. This may sound like a long time but Banks, Building Societies and other mortgage companies generally need leases to have a minimum of 75 years unexpired to adequate security. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching eighty years. To increase your property value you should be considering whether to extend your lease long before you come to sell it. Furthermore strong financial reasons to doing so before the lease reaches even 80 years as when the lease falls below eighty years the amount you have to pay to extend starts to get a lot more expensive.