I am purchasing a property without a mortgage in Pontardawe. I have lived for the last 15 years in Pontardawe. Conveyancing searches are exorbitant. Given that I know the road and vicinity intimately must I have all the conveyancing searches?
If you not getting a home loan, then the vast majority of the Pontardawe conveyancing searches are non-obligatory. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches done, but she is duty bound to do this. One thing to bear in mind; if you are likely to dispose of the house in the future, it could be of importance to your prospective buyer what the searches contain. There are plenty of instances where premises with no practical issues can still throw up adverse search results. A competent conveyancing solicitor in Pontardawe should provide you some constructive guidance concerning this.
Do all mortgage companies provide you with an approved list of Pontardawe conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Pontardawe conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Pontardawe.
Flooding is a growing risk for lawyers conducting conveyancing in Pontardawe. There are those who buy a property in Pontardawe, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Pontardawe. The conventional set of completed inquiry forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to determine whether the premises has historically flooded. If the residence has been flooded in past which is not revealed by the vendor, then a purchaser could bring a compensation claim resulting from an inaccurate reply. A purchaser’s lawyers should also order an enviro report. This should reveal whether there is a recorded flood risk. If so, additional investigations will need to be made.
I am looking for a leasehold apartment up to £305k and identified one near me in Pontardawe I like with a park and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Pontardawe for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you require a home loan the shortness of the lease will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
My husband and I are FTB’s - agreed a price, yet the property agent has warned us that the vendor will only go ahead if we instruct their preferred solicitors as they want an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Pontardawe
It is unlikely the owners are driving this. If they desire ‘a quick sale', alienating a genuine purchaser is is going to put the whole deal at risk. Contact the sellers directly and make sure they understand (a)you are genuine buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Pontardawe conveyancing solicitors - not the ones that will earn their negotiator at the agency a kickback or meet his conveyancing targets pre-set by corporate headquarters.
Having checked my lease I have discovered that there are only Sixty One years left on my flat in Pontardawe. I am keen to get lease extension but my landlord is absent. What should I do?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you or your lawyers have used your best endeavours to locate the landlord. On the whole a specialist may be helpful to try and locate and to produce an expert document to be used as evidence that the freeholder can not be located. It is wise to seek advice from a solicitor both on investigating the landlord’s absence and the application to the County Court covering Pontardawe.
I own a basement flat in Pontardawe, conveyancing having been completed August 2004. Can you work out an approximate cost of a lease extension? Equivalent properties in Pontardawe with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease runs out on 21st October 2085
With only 61 years unexpired we estimate the price of your lease extension to span between £19,000 and £22,000 as well as legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.