The conveyancer who dealt with my previous purchase has sent a quote for £1700 for leasehold conveyancing in Solva. I’m looking to sell a purpose built house for £200,000. Is this over the top? Is it above what I should be paying for conveyancing in Solva?
The costs illustration is fractionally on the expensive side. If you shop around you might shave off some of the expense by perhaps a hundred pounds. That being said, you maycome to rue choosing an an unknown lawyer. Remember to enquire the conveyancer can also act for your mortgage company. You can utilise our search tool to select a Solva conveyancing company on the lender’s conveyancing panel which can often include conveyancing solicitors in Solva.
I am purchasing a 4 bedroom semi-detached house in Solva. We would like to convert the garage to a playroom at the property.Will the conveyancing process involve checks to see if these works were previously refused?
Your conveyancer should check the deeds as conveyancing in Solva can sometimes identify restrictions in the title deeds which prevent certain alterations or require the consent of a 3rd party. Some additions require local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
I am the sole recipient of my late mum's will with all property in now in my sole name, including the my former home in Solva. The Solva property was put into my name in March. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in March. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Most lenders would take a practical view as this obligation chiefly exists to capture the purchase and immediately sell or the quick reselling of properties.
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Solva building society branch on various occasions and was told they are content with the situation and they would lend. My Solva conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they refuse to lend based on their published requirements. Who do I believe?
Your lawyer has to comply with the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
My relative advised me that where I am buying in Solva I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Solva conveyancing searches. It is a large document of about 40 pages, listing and detailing significant information about Solva around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Solva Education with maps and statistics, Local Amenities and other useful information concerning Solva.
I used Arc property Solicitors a few years ago for my conveyancing in Solva. I now require my file however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Solva of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying a new build house in Solva with a loan from Godiva Mortgages Ltd. The sellers would not reduce the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent told me not inform my lawyer about the extras as it may impact my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I work for a reputable estate agent office in Solva where we see a number of leasehold sales jeopardised as a result of leases having less than 80 years remaining. I have received conflicting advice from local Solva conveyancing solicitors. Can you clarify whether the owner of a flat can instigate the lease extension process for the purchaser on completion of the sale?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I purchased a 1 bedroom flat in Solva, conveyancing was carried out 9 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable flats in Solva with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £45 yearly. The lease ends on 21st October 2099
With only 74 years left to run the likely cost is going to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before getting professional advice.