My partner’s dad is a conveyancing practitioner. I suspect that I will receive mate’s rates for conveyancing, but if not, what level of figure would I typically be looking at for conveyancing in Rhiwbina?
It’s sensible to request multiple conveyancing quotes. Do use our search tool on this page. You will notice that quotes will be different but the service one can expect are distinct between law firms as is true with most professions.
My partner and I are nearing an exchange on a house in Rhiwbina and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender regarding my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The conveyancer is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
The Rhiwbina conveyancing solicitors that I appointed last week on my house acquisition in Rhiwbina have suddenly shut down. I chose them because I needed a firm on the Leeds Building Society conveyancing panel and my preferred Rhiwbina lawyer was not. I gave my credit card details for them to take £195 for searches. What should be my next steps?
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 will need to appoint new lawyers that are on the Leeds Building Society 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 lawyers should be in a position to help.
Have purchased a a semi-detached house in Rhiwbina , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Rhiwbina conveyancing solicitor has been very slow, so I want to check that my purchase is recorded.
There is nothing unique when it comes to conveyancing in Rhiwbina registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether it is in order and if the Land registry need to notify any interested persons or bodies. At present approximately three quarters of such applications are fully addressed in less than three weeks but some can be subject to extensive delays. Registration is effected after the buyer has moved in to the property so an expedited registration is not usually top priority but if it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
I'm purchasing my first flat in Rhiwbina with the aid of help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the side-deal as it may put at risk my loan with the bank. 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.
I am employed by a busy estate agency in Rhiwbina where we see a few leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Rhiwbina conveyancing solicitors. Can you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I acquired a 1st floor flat in Rhiwbina, conveyancing having been completed December 1999. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Rhiwbina with an extended lease are worth £191,000. The average or mid-range amount of ground rent is £55 invoiced every year. The lease terminates on 21st October 2075
You have 54 years remaining on your lease the likely cost is going to span between £32,300 and £37,400 as well as 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 cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.