I am purchasing a newly built duplex in Vale Of Glamorgan and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to exchange contracts and I don't want to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. 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.
Can you clarify what the consequences are if my solicitor is expelled from the Virgin Money Solicitor panel ahead of completing my conveyancing in Vale Of Glamorgan?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Intending to buy a house in Vale Of Glamorgan. 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 Nottingham 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 Vale Of Glamorgan conveyancing practitioner is on the Nottingham conveyancing panel.
I had an offer accepted on an apartment in Vale Of Glamorgan on 4/8/2025, valuation was booked five days after, all came back fine. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Yorkshire BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Yorkshire BS conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
At last I have had an offer on a maisonette in Vale Of Glamorgan accepted, but there is a chain. The owners have offered on a flat, but it’s not been accepted yet, and are looking at other properties booked. I have instructed a bricks and mortar conveyancing solicitor in Vale Of Glamorgan. What do I do now? When do I get the mortgage application with Aldermore going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is in the region of £1k, then survey, Vale Of Glamorgan conveyancing search charges, etc). First, you must ensure that your lawyer is on the Aldermore approved list. As to the subsequent phase this very much depends on the circumstances of your case, desire for the property and on the state of the market. During a buoyant market the majority of purchasers would apply for the mortgage with Aldermore and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with searches.
What can a local search inform me regarding the property I am purchasing in Vale Of Glamorgan?
Vale Of Glamorgan conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search plays a central part in many a Vale Of Glamorgan conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
About to purchase a new build flat in Vale Of Glamorgan. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Vale Of Glamorgan
-
The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Please confirm the Lease plans are architect prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Can you provide any top tips for leasehold conveyancing in Vale Of Glamorgan from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Vale Of Glamorgan can be avoided if you appoint lawyers the minute you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ lawyers. You may think that you are aware of the number of years left on your lease but it would be wise to double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is under 75 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you are supposed to have a share in the freehold, you should make sure that you hold the original share certificate. Obtaining a replacement share certificate is often a lengthy process and frustrates many a Vale Of Glamorgan conveyancing transaction. If a new share certificate is needed, you should approach the company officers or managing agents (where relevant) for this as soon as possible. If you have carried out any alterations to the property would they have required Landlord’s approval? In particular have you installed wooden flooring? Vale Of Glamorgan leases often stipulate that internal structural alterations or laying down wooden flooring necessitate a licence from the Landlord consenting to such changes. Should you dont have the approvals to hand you should not communicate with the landlord without contacting your solicitor before hand. Some Vale Of Glamorgan leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers.
I invested in buying a studio flat in Vale Of Glamorgan, conveyancing was carried out in 2001. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Vale Of Glamorgan with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease ceases on 21st October 2091
You have 66 years left to run the likely cost is going to be between £11,400 and £13,200 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.