I am due to complete on the purchase of a property in Barry Island but as a result of wreckage from some water damage at the property I have was able negotiate reparation from the owner in the sum of £2k by way of a deduction in the price. I had intended this to be dealt with as part of the conveyancing process yet TSB are not allowing this. Why were they informed?
Any conveyancing practitioner that is on the TSB approved list is obliged to disclose to TSB of any amendments to the purchase price. If you were to refuse your conveyancing practitioner to notify the reduction to TSB then they would have to discontinue acting for you. In addition, TSB and you would have to appoint a new property lawyer for your conveyancing in Barry Island.
My grandfather passed away six months ago and as sole heir and executor I was left the house in Barry Island. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
Where you plan to refinance then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I'm purchasing a new build house in Barry Island with a mortgage from The Mortgage Works. The sellers would not budge the price so I negotiated 6k of additionals instead. The estate agent advised me not disclose to my conveyancer about this deal as it could impact 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 encouragement of my in-laws I had a survey completed on a house in Barry Island prior to retaining conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some lenders may not issue a mortgage on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. If you e-mail us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Barry Island. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barry Island to see if the conveyancing costs will increase in light of this.
In what way can the Landlord & Tenant Act 1954 impact my commercial premises in Barry Island and how can your lawyers assist?
The 1954 Act gives protection to commercial leaseholders, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and assist with commercial conveyancing in Barry Island
What are your top tips when it comes to appointing a Barry Island conveyancing practice to deal with our lease extension?
When appointing a property lawyer for lease extension works (regardless if they are a Barry Island conveyancing firm) it is imperative that they 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 Barry Island conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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If they are not ALEP accredited then why not?
Barry Island Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to Purchasing
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This question is helpful as a) areas can result in problems in the block as the common areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have full disclosure Are any of leasehold owners in arrears of their service charge liability?