My previous conveyancer has given a fee estimate £1200 for no sale no fee conveyancing in Pencoed. I’m selling a modern house for £225,000. Are these estimated fees excessive? Is it in excess of what I should be paying for conveyancing in Pencoed?
The quote is slightly on the expensive side. Where you are happy to invest time comparing quotes you may be able to reduce the fees slightly by say £100 plus VAT. On the other hand, you maylive to regret choosing an an untested lawyer. Don't forget to enquire the conveyancer can represent your mortgage company. You can use our search tool to get a quote a Pencoed conveyancing company on the lender’s approved list of lawyers which can often include conveyancing solicitors in Pencoed.
My son-in-law is purchasing a new build apartment in Pencoed with a home loan from Nationwide. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are there restrictive covenants that are commonly identified during conveyancing in Pencoed?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Pencoed. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Pencoed I like with open areas and transport links in the vicinity, however it's only got 51 remaining years left on the lease. I can't really find anything else in Pencoed suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a home loan the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
What advice can you give us when it comes to finding a Pencoed conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Pencoed conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you talk with two or three firms including non Pencoed conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be helpful:
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If the firm is not ALEP accredited then what is the reason?
Pencoed Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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What is the length of the lease? Is there a share of the freehold?
I am soon to complete on the purchase a property in Pencoed but as a consequence of wreckage from the recent storms I have negotiated reparation from the owner of £2k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process yet the lender will not agree to this. Why were they involved?
Your property lawyer that is on a bank approved list is obliged to advise the mortgage company of any changes to the purchase figure. In the event that you prohibit your property lawyer to report the price change to your lender then they would need to refrain from acting for you and the mortgage company.