My partner and I are only a couple days away from an exchange on a house in Rogerstone and my mum and dad have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your lawyer is obliged to check with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
We had instructed conveyancers located in Rogerstone on the Skipton solicitor approved list. They are now charging me an additional fee for handling the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer is entitled to charge a fee for this. This charge is not dictated by Skipton but by your Rogerstone property lawyer. Some firms on the Skipton panel will quote an ‘acting for lender’ fee but many practices include it on their overall fee.
The formalities of my purchase has taken place for my property in Rogerstone. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Planning on purchasing a flat in Rogerstone. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rogerstone conveyancer is on the Virgin Money conveyancing panel.
My relative suggested that where I am purchasing in Rogerstone I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Rogerstone conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about Rogerstone around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Rogerstone Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Rogerstone Education with maps and statistics, Local Amenities and other useful data about Rogerstone.
About to purchase a new build flat in Rogerstone. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Rogerstone
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
Am I better off to choose a Rogerstone conveyancing practitioner in close proximity to the house I am purchasing? We have a good friend who can perform the legal work but his firm is located 300kilometers away.
The primary upside of using a local Rogerstone conveyancing practice is that you can visit the firm to execute documents, deliver your ID and apply pressure on them where appropriate. They will also have local insight which is a plus. However it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and on the whole were impressed that must surpass using an unfamiliar Rogerstone conveyancing lawyer solely due to them being based in the area.
What makes a Rogerstone lease unacceptable for security purposes?
Leasehold conveyancing in Rogerstone is not unique. Most leases are drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain elements of the property
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Skipton Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to provide security, forcing the buyer to pull out.
I purchased a basement flat in Rogerstone, conveyancing was carried out 8 years ago. 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 properties in Rogerstone with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease terminates on 21st October 2091
With 66 years left to run we estimate the price of your lease extension to range between £11,400 and £13,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.