My wife and I are approaching an exchange on a flat in Risca and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The lawyer is obliged to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
We are purchasing a property and need a conveyancing solicitor in Risca who is on the Lloyds conveyancing panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Lloyds . We don't recommend any particular firms conducting conveyancing in Risca.
I have been recommended a conveyancing solicitor in Risca. I need to find out whether they are accepted on the Nationwide Building Society approved list of lawyers. Could you assist?
The first thing to do is call your conveyancer and ask them if they are on the lender panel. Otherwise please get in touch with Nationwide Building Society who may be able to assist.
How do I use your search tool to find a conveyancing lawyer in Risca on the panel for my bank?
First pick a lender such as Santander, Skipton Building Society or Aldermore then choose your location for example Risca. Conveyancing firms in Risca and beyond will then be shown.
Do you have any top tips for leasehold conveyancing in Risca with the aim of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Risca can be bypassed where you appoint lawyers the minute your agents start marketing the property and ask them to collate the leasehold documentation needed by the purchasers’ representatives. If you have had conflict with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and discharge 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 ahead of 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 present the dispute as over rather than unresolved. The majority of landlords or managing agents in Risca levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. 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 frequent cause of frustration in leasehold conveyancing in Risca. You may think that you are aware of the number of years left on your lease but it would be wise to verify this by asking your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I am the registered owner of a 1st floor flat in Risca, conveyancing was carried out September 1995. 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? Equivalent flats in Risca with a long lease are worth £211,000. The ground rent is £50 yearly. The lease ceases on 21st October 2093
With just 68 years unexpired we estimate the price of your lease extension to span between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.
I acquired a flat in Risca last 19/4/2024 and to date it is still not recorded with HM Land Registry. It was part of a new estate and my conveyancing practitioner told me that it can take one year to register. I have spoken with HM Land Registry directly and they have informed me the initial application was cancelled due to questions not being addressed in time. Should I be concerned?
Call your lawyer - if you are not getting sensible responses, look up their internal complaints protocol and escalate your concerns to a Complaints Manager. Registrations for Risca conveyancing are not known to be especially complex.