AssumingI was to purchase a freehold housein Pontcanna mortgage fee and have no survey and no conveyancing searches how much could I expect to to save on my conveyancing in Pontcanna?
The only reduction in fees you would achieve is the Pontcanna conveyancing searches. A lawyer still be obliged to do everything else - money laundering, correspond with your vendors conveyancer, stamp duty submission, register the property etc. A marginal saving might be made by not needing to register a charge but it won't be significant.
My partner and I are close to exchanging contracts on the sale of our property in Pontcanna and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers used a web based conveyancing practice rather than a conveyancing solicitor in Pontcanna. Having lived in Pontcanna for three years we know that this is a non issue. Do we contact our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Pontcanna differ for newly converted properties?
Most buyers of new build premises in Pontcanna approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Pontcanna typically acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pontcanna or who has acted in the same development.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Pontcanna I like with amenity areas and railway links nearby, the downside is that it's only got 51 years unexpired on the lease. There is not much else in Pontcanna for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage that many years will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.
What makes your site different to alternative web based conveyancing solicitors for conveyancing in Pontcanna?
At this site receive a conveyancing costs illustration from a Solicitor or Licensed Conveyancer that understands the nuances for your conveyancing in Pontcanna. As opposed to estate agents and brokerage sites we do not operate referral arrangements with solicitors. Some agents and online brokers 'recommend' the firm who pay the highest commission, rather than the best value conveyancing in Pontcanna
Do you have any advice for leasehold conveyancing in Pontcanna from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Pontcanna can be avoided if you get in touch lawyers the minute your agents start advertising the property and ask them to put together the leasehold information which will be required by the buyers’ conveyancers. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a flat where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose particulars of the dispute to the buyers, but it is better to reveal the dispute as historic as opposed to unsettled. You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your solicitors. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is under 75 years. It is therefore 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. If you have carried out any alterations to the premises would they have required Landlord’s approval? Have you, for example installed wooden flooring? Pontcanna leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence issued by the Landlord acquiescing to such alterations. If you fail to have the approvals to hand you should not contact the landlord without contacting your lawyer in advance. The majority of landlords or managing agents in Pontcanna charge for supplying management packs for a leasehold property. You or your lawyers should discover the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Pontcanna.
I invested in buying a 1st floor flat in Pontcanna, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Equivalent properties in Pontcanna with an extended lease are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease comes to an end on 21st October 2095
With just 70 years left to run we estimate the premium for your lease extension to be between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.