I require conveyancing for a flat in a fairly new development (6 years built) in Risca. 95% of the flats are already occupied. Do I need carry out the neighbourhood searches for my conveyancing in Risca?
You are putting yourself at risk in failing carrying out Risca conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal requirement to have them, but we would strongly advise in no uncertain terms that you have them. Where time pressures and expenses are primary issues you should discuss with your solicitor about the option of search insurance
We're in Risca, FTBs purchasing with a mortgage (lender is Santander , and our solicitor is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who dealt with the conveyancing in Risca 10 years ago have long since closed. What are my next steps?
In today’s world there are duplicates made of almost everything, and your lawyer should be aware exactly where to locate all the appropriate documentation so you can purchase or dispose of your house without any difficulty. If copies are not available, your solicitor can arrange cover in the form of insurance or indemnities against future claims on the premises.
Do I need to be concerned about estate agents that I am dealing with are suggesting a factory type conveyancing firm as opposed to a High Street Risca conveyancing practice?
As is the case with many professional services, often input from connections can be most helpful. Yet there are lots of parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies might all put forward solicitors to instruct. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You are at liberty to select your own conveyancer. Don't forget that most banks operate an approved list of law firms you have to use for the lender related work in your conveyancing.
I've found a house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Risca. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
Most houses in Risca are freehold and not leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can help the conveyancing process. it is apparent that you are buying in Risca in which case you should be shopping around for a Risca conveyancing solicitor and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your conveyancer will advise you fully on all the issues.
I acquired a split level flat in Risca, conveyancing formalities finalised June 1996. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Risca with over 90 years remaining are worth £221,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease finishes on 21st October 2096
You have 70 years left to run we estimate the price of your lease extension to span between £9,500 and £11,000 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
I happen to be an executor of my recently deceased parent's Will, with a property in Risca which is to be sold. The property has never been registered at HMLR and I'm told that many estate agents will insist that it is completed before they'll proceed. What's the mechanism for this?
In the situation that you have set out it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.