Have just purchased a repossessed house at auction in Ammanford. Conveyancing is required. What happens now?
Given that you are now exchanged you must instruct a conveyancing lawyer quickly as you will have a pending deadline in which to complete the property. Every auction property will ordinarily have an associated legal pack. This will likely include most,if not all of the documents that your conveyancer will need. Where you are dealing with leasehold property the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork pertinent to a leasehold property. You need to hand this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
When it comes to lenders such as Santander, do Ammanford solicitors incur an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
My wife and I are at the point of looking at flats in Ammanford and I am now considering a potential offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Santander.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are getting a mortgage with Santander, make sure you remember to check that your lawyer is on the Santander conveyancing panel.
We are buying a property and the lawyer has identified Chancel Repair for which the property could be obligated to pay given it’s proximity to the area of such a church. She has mentioned insurance. Is this strictly appropriate for conveyancing in Ammanford
Unless a prior purchase of the property took place after 12 October 2013 you may expect lawyers delivering conveyancing in Ammanford to continue to suggest a chancel search and or chancel repair liability insurance.
I have justdiscovered that Arc property Solicitors have been shut down. They carried out my conveyancing in Ammanford for a purchase of a leasehold flat 9 months ago. How can I establish that my home is not still registered in the name of the previous owner?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ammanford conveyancing specialists.
I am buying my first flat in Ammanford with a loan from Barclays . The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not disclose to my conveyancer about the deal as it would jeopardize my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Due to the input of my in-laws I had a survey completed on a property in Ammanford in advance of instructing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks may refuse to give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ammanford. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to appointing a Ammanford conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Ammanford conveyancing practice) it is imperative that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you make enquires with two or three firms including non Ammanford conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be of use:
-
How familiar is the practice with lease extension legislation? What are the legal fees for lease extension conveyancing?
I am the registered owner of a basement flat in Ammanford, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Ammanford with over 90 years remaining are worth £207,000. The ground rent is £60 invoiced every year. The lease ends on 21st October 2084
With 58 years unexpired the likely cost is going to span between £26,600 and £30,800 plus costs.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.