What will a local search inform me about the property we're buying in Bassaleg?
Bassaleg conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations such as Xpress Legal The local search plays a central part in many a Bassaleg conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
4 months have gone by since my purchase conveyancing in Bassaleg completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 property 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 Bassaleg differ for new build properties?
Most buyers of new build premises in Bassaleg come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is ready to move into. This is because new home sellers in Bassaleg usually acquire the real estate, 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 property lawyers 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 used to new build conveyancing in Bassaleg or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Bassaleg I like with amenity areas and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Bassaleg suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a home loan that many years will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I'm remortgaging my primary house to a BTL mortgage with The Royal Bank of Scotland and I will use the ballance of the raised equity towards further property. The location we are interested in is Bassaleg. Will your lawyers be able to act for the two banks and link together the two deals?
Do use our comparison tool on this page to check that the solicitors are approved by both lenders. On the basis that they are the lawyer should be able to simultaneously deal with the two deals but you should have a chat with you solicitor and make clear your expectations and requirements.
How and when do I cover the costs of stamp duty payable for my purchase in Bassaleg?
Your conveyancer should complete a stamp duty return on your behalf as part of your Bassaleg conveyancing transaction for signature. After completion your conveyancing practitioner will submit your Land Transaction application to the Inland Revenue and - assuming they have the money - pay any Stamp Duty liability for you.