My partner and I are nearing an exchange on a flat in Radyr and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has not arrived from me my conveyancer needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company regarding my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your solicitor is legally required to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
As someone not used to the Radyr conveyancing process what is your top tip you can give me concerning the home moving process in Radyr
Not many law firms shout this from the rooftops but conveyancing in Radyr and elsewhere in Cardiff is an adversarial experience. In other words, when it comes to conveyancing there exists an abundance of room for confrontation between you and others involved in the ownership transfer. E.g., the seller, selling agent and on occasion a mortgage company. Appointing a lawyer for your conveyancing in Radyr is a critical decision as your conveyancer is your adviser, and is the ONE party in the transaction whose role it is to protect your legal interests and to keep you safe.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be blamed for the process taking so long. You your first instinct should be to trust your solicitor ahead of the other parties in the conveyancing process.
We're in Radyr, First timers buying with a mortgage (lender is Coventry BS , and our solicitor is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS 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.
Just bought a detached house in Radyr , how long will it take for the Land Registry to register my title? My Radyr conveyancing solicitor has been very slow, so I want to be sure the registration is concluded.
As far as conveyancing in Radyr registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can adjust depending on the party submitting the application, whether it is in order and if the Land registry need to notify any other persons or bodies. Currently roughly 80% of such applications are fully dealt with within 12 days but some can be subject to extensive delays. Registration is effected once the purchaser has moved in to the property so registration formalities is not typically primary concern yet where there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
I am looking for a flat up to £195,000 and found one close by in Radyr I like with amenity areas and railway links nearby, however it only has 52 years on the lease. I can't really find anything else in Radyr suitable, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years will likely be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
My wife and I purchased a leasehold house in Radyr. Conveyancing and TSB mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1993. The conveyancing practitioner in Radyr who previously acted has now retired. What should I do?
The first thing you should do is contact the Land Registry to make sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Radyr conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a split level flat in Radyr, conveyancing formalities finalised August 2005. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Radyr with a long lease are worth £222,000. The ground rent is £50 levied per year. The lease ends on 21st October 2096
With only 71 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.