I am acquiring a new build apartment in Roath Park and my lawyer is telling me that she is duty bound to the lender to reveal incentives from the builder. I am nearing the developer’s deadline to sign contracts and I don't want to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is 10 years ago since I purchased my home in Roath Park. Conveyancing lawyers have recently been instructed on the sale but I can't find the title documents. Is this a problem?
Don’t worry too much. First there is a chance that the deeds will be kept by your mortgage company or they could be in the possession of the solicitor who oversaw your purchase. Secondly the chances are that the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Roath Park involves registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
Due to the advice of my in-laws I had a survey completed on a property in Roath Park ahead of instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor has said that some banks tend not give a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Roath Park. Conveyancing will be smoother if you use a solicitor in Roath Park especially if they are acquainted with such properties in Roath Park.
My cousin has suggested that I appoint his lawyers for conveyancing in Roath Park. Should I find my own property lawyer?
Much as we are happy to recommend a Roath Park conveyancing lawyer it’s preferable to choose a conveyancing lawyer is to get feedback from friends or relatives who have experience in using the firm that you are contemplating using.
I have just appointed agents to market my 2 bed flat in Roath Park. Conveyancing is yet to be initiated, however I have just had a half-yearly maintenance charge demand – what should I do?
The sensible thing to do is discharge the maintenance contribution as normal because all ground rent and service charges should be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I invested in buying a studio flat in Roath Park, conveyancing having been completed 6 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Roath Park with over 90 years remaining are worth £175,000. The ground rent is £65 levied per year. The lease expires on 21st October 2082
With only 58 years remaining on your lease the likely cost is going to be between £23,800 and £27,400 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
What should I expect to pay for conveyancing in Roath Park?
Almost all Roath Park conveyancing firms will charge a standard fee. Where further work arise during the transaction your lawyer must advise you in writing of such supplemental costs for such work as soon as it becomes obvious. Some practices may agree not to charge a fee if a transaction does not go ahead, others will levy an bill for a proportion of the set charges, according to the stage at which the deal falls through.
It is advisable to ask two or three practices to give you an estimate.