The Pontypridd conveyancing firm that I recently instructed on my house acquisition in Pontypridd have suddenly closed. They were on acting for me because I had to have a firm on the Nottingham conveyancing panel and my preferred Pontypridd lawyer was not. I paid them money in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
What can a local search inform me concerning the house we're purchasing in Pontypridd?
Pontypridd conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Searchflow The local search plays an important part in many a Pontypridd conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I am purchasing a new build house in Pontypridd with a mortgage from Barclays . The developers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the side-deal as it will jeopardize my loan with the lender. Is this normal?.
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.
Due to the advice of my in-laws I had a survey completed on a property in Pontypridd in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some banks will not give a mortgage on such a premises.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you e-mail us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Pontypridd. Conveyancing may be slightly more expensive based on your lender's requirements.
Do you have any top tips for leasehold conveyancing in Pontypridd with the intention of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Pontypridd can be avoided if you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold documentation which will be required by the purchasers’ solicitors. You may think that you are aware of the number of years left on your lease but you should double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to where the lease term is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. A minority of Pontypridd leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is able to meet the annual 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 buyers or their solicitors. If there is a history of conflict with your freeholder or managing agents it is essential that these are settled prior to the flat being marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic rather than ongoing. In the event that you altered the property did you need the Landlord’s permission? In particular have you installed wooden flooring? Pontypridd leases often stipulate that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord consenting to such works. Where you fail to have the paperwork in place you should not contact the landlord without checking with your conveyancer in advance.
I inherited a 2 bed flat in Pontypridd, conveyancing was carried out 9 years ago. How much will my lease extension cost? Equivalent properties in Pontypridd with over 90 years remaining are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease finishes on 21st October 2079
With 55 years left to run the likely cost is going to be between £31,400 and £36,200 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
Whilst your website is a good idea there are many lawyers listed near Pontypridd being on the bank conveyancing panel. Can you recommend a specific firm on the mortgage company approved panel?
We do not recommend specific Pontypridd firms as the right Pontypridd conveyancing solicitor for you depends on where your priorities lie. For example you may require a local firm with Pontypridd knowledge or you might be looking for the low cost conveyancing. Before you appoint your lawyer we advise you to speak to two or three of the the firms listed to gain comfort as to which one is right for you..