Please help. My Cardigan solicitor is assuring me that he has toconduct Cardigan conveyancing searches becausethe firm are on the Virgin Moneyconveyancing panel. These Cardigan searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Cardigan conveyancing searches.
I am the single recipient of my late father’s will with all property in now in my sole name, including the house in Cardigan. The Cardigan property was put into my name in November. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership will be treated the same way as if I'd bought the house in November. Do I have to wait 6 months to sell?
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 may be caught by that. Most lenders would take a pragmatic view as this obligation is chiefly there to pick up on subsales or the flipping of properties.
We previously selected conveyancers locally in Cardigan on the Lloyds solicitor approved list. They are now charging me an additional fee for handling the Lloyds mortgage. Is this an additional conveyancing fee set by Lloyds?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner can charge a fee for this. This fee is not dictated by Lloyds but by your Cardigan property lawyer. Some firms on the Lloyds panel will quote an ‘acting for lender’ fee and others do not.
Two weeks ago we had a mortgage agreed in principle with Barclays. Cardigan conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from Barclays?
There is no definitive answer here. Have Barclays done the valuation? Have you advised Barclays as to your lawyers' details and checked that your lawyers are on the Barclays conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I got the keys to my house on 1 April and the transaction details is not yet registered. Any reason for this? My conveyancing solicitor in Cardigan said it would be recorded in less than a month. Are titles in Cardigan uniquely lengthy to register?
There is nothing unique about conveyancing in Cardigan registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to who lodges the application, whether there are errors and if the Land registry need to notify any third persons or bodies. Currently in the region of 80% of such applications are fully addressed within 12 days but some can be subject to protracted delays. Registration is effected after the purchaser is living at the premises so 'speed' is not usually primary concern but where there is a degree of urgency associated with the registration then you or your conveyancer should communicate with the Registry to express the reasoning for an expedited registration.
I am looking for a flat up to £305k and found one round the corner in Cardigan I like with amenity areas and transport links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Cardigan for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the remaining unexpired lease term may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
I am using a search engine for the term on line conveyancing in Cardigan it shows results of many solicitorsin the area. How do I determine which is the right conveyancing solicitor for purchase transaction?
The preferential way of finding a suitable conveyancer is via personal recommendation, so enquire of colleagues and family who have acquired a property in Cardigan or the respected estate agent or financial adviser. Fees for conveyancing in Cardigan vary, so it's sensible to request a minimum of four quotes from different solicitors. Be sure to secure confirmation that the charges are guaranteed not to rise.
Frank (my husband) and I may need to sub-let our Cardigan garden flat temporarily due to taking a sabbatical. We used a Cardigan conveyancing practice in 2004 but they have closed and we did not think at the time seek any guidance as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Cardigan do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord is not entitled to unreasonably refuse but, in such cases, they would need to review references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
I own a leasehold flat in Cardigan, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Cardigan with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 levied per year. The lease expires on 21st October 2087
With just 63 years left to run we estimate the premium for your lease extension to range between £16,200 and £18,600 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.