I can't travel far from Abercynon. Is there a reason why all Abercynon solicitors aren't automatically on all lender panels?
Lenders normally restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that the organisation is required to have at least two partners. As well as restricting the type of firm, some building societies decided to restrict the number of organisations they allow to represent them. You should note that building societies have no accountability for the quality of service given by any Abercynon solicitor on their approved list. Property fraud was the key driver in the rationalisation of conveyancing panels in the last decade notwithstanding that there are conflicting thoughts about whether solicitors sat at the center of that fraud. Data from the Land Registry exposes that thousands of law practices only transact less than three conveyances a year. Those vindicating conveyancing panel culls ask why conveyancing firms deserve the right to be on a bank panel when it is apparent that conveyancing is not their primary expertise?
It is a dozen years since I bought my property in Abercynon. Conveyancing solicitors have recently been retained on the sale but I can't locate the title deeds. Will this cause complications?
Don’t worry too much. Firstly there is a chance that the deeds will be with your lender or they could still be with the conveyancers who handled the purchase. Secondly in all probability 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 obtaining current official copies of the land registers. Almost all conveyancing in Abercynon involves registered property but in the rare situation where your property is not registered it is more problematic but is resolvable.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Abercynon I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in Abercynon in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
I have been pointed in your direction by a few selling agents in Abercynon to select a conveyancer using your seach tool. What’s the financial advantage for Estate Agents to recommend your site over another?
We refuse to give any financial incentive for pointing buyers and sellers in our direction. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I need to instruct a conveyancing solicitor for freehold conveyancing in Abercynon. I have chance upon a web site which appears to be the perfect answer If it is possible to get all the legals done via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold flat in Abercynon. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a split level flat in Abercynon, conveyancing having been completed April 2006. Can you work out an approximate cost of a lease extension? Comparable flats in Abercynon with over 90 years remaining are worth £195,000. The ground rent is £45 invoiced every year. The lease runs out on 21st October 2089
With only 63 years left to run we estimate the price of your lease extension to range between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first seeking the advice of a professional.