What is the difference between a licensed conveyancer and conveyancing solicitor in Abertridwr
There are two types of lawyers who can conduct conveyancing in Abertridwr namely licenced conveyancers or solicitors. Both professionals handle conveyancing services that you need to complete the disposal or acquisition of property. They are both obliged to execute Abertridwr conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally conducted and that the requisite procedures will be suitably taken.
A relative advised me that in buying a property in Abertridwr there could be various restrictions affecting the ability to carry out external changes to a property. Is this right?
There are anumerous of properties in Abertridwr which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Abertridwr should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Abertridwr CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing list of approved firms?
It is true that some banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
It has been three months since my purchase conveyancing in Abertridwr concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Abertridwr differ for new build properties?
Most buyers of new build property in Abertridwr come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Abertridwr tend to purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Abertridwr or who has acted in the same development.
I decided to have a survey completed on a property in Abertridwr in advance of appointing solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some banks may refuse to give a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Abertridwr. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Abertridwr to see if the conveyancing will be more expensive.
Last October I purchased a leasehold house in Abertridwr. Am I liable to pay service charges relating to a period prior to completion of my purchase?
In a situation 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
Leasehold Conveyancing in Abertridwr - A selection of Queries Prior to buying
-
Please note if it is no more than 80 years it will impact the value of the apartment. Check with your bank that they are happy with remaining years on the lease. A short lease means that you will almost definitely have to extend the lease at some point and it is worth finding out what this will be. Remember, in most cases you would be be obliged to have been the owner of the property for a couple of years in order to be eligible to extend the lease. What is the maintenance charge and ground rent on the apartment?
We have AIP from Barclays who indicated we could borrow up to £300k. When do we need to appoint a lawyer for conveyancing? Abertridwr is where we plan to move to.
It would be wise to instruct a solicitor now and ask them to open a file on your behalf. This will kickstart: 1) the selling agent to issue a Sales Memorandum to all parties 2) the seller’s solicitor to send out the draft contract. However, do not ask your property lawyer to start searches until you have your valuation report via Barclays and you are content to move forward.