I am acquiring a leasehold flat in Roath Park. My Solicitor is not on the lender conveyancing panel. Can I still retain my Roath Park conveyancing solicitor notwithstanding that they are not on the bank panel?
Your options include
- Carry on with your preferred Roath Park property lawyer but your lender will no doubt instruct a property lawyer on their approved list. The net result is additional cost together with potential interruption.
- Appoint a fresh solicitor to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Appeal to your conveyancer to apply to join the lender panel
My son-in-law is buying a house that has just been built in Roath Park with a home loan from HSBC. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the HSBC conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the HSBC conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
How does conveyancing in Roath Park differ for newly converted properties?
Most buyers of new build or newly converted property in Roath Park contact us having been asked by the developer to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Roath Park tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Roath Park or who has acted in the same development.
Over the last few months I have been searching for a flat up to £195,000 and found one close by in Roath Park I like with open areas and station in the vicinity, the downside is that it only has 52 years unexpired on the lease. There is not much else in Roath Park suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
How can the Landlord & Tenant Act 1954 affect my commercial premises in Roath Park and how can your lawyers assist?
The 1954 Act provides protection to commercial tenants, giving them the right to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Roath Park
As co-executor for the will of my grandfather I am selling a residence in Newport but live in Roath Park. My lawyer (who is 300 kilometers awayhas requested that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Roath Park who can witness and place their company stamp on the document?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are based in Roath Park