Having sold my house in Bridgend last November yet the purchaser is e-mailing daily complaining that their conveyancer needs to hear from mysolicitor. What are the post completion sale legalities following completion?
Following your disposal your solicitor should forward the transfer deeds and all of the paperwork to the purchaser's conveyancer. Where appropriate, your solicitor should also confirm that the legal charge in favour of the lender has been repaid to the buyers conveyancers. There are no post completion tasks unique to conveyancing in Bridgend.
We just had an offer accepted to buy with Melton Mowbray Building Society. I popped in a couple of high street solicitors yet am unable to find a Bridgend conveyancing firm on the Melton Mowbray Building Society panel. Could you assist?
You should take advantage of the search tool on this web page. Pick the mortgage company and type Bridgend or your location and you will be presented with numerous conveyancers offices in Bridgend or nearest you.
How does conveyancing in Bridgend differ for new build properties?
Most buyers of new build residence in Bridgend approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Bridgend tend to purchase the land, 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 used to new build conveyancing in Bridgend or who has acted in the same development.
I have been on the look out for a flat up to £305k and found one close by in Bridgend I like with a park and transport links nearby, the downside is that it's only got 49 years on the lease. There is not much else in Bridgend suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a mortgage the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
How can the Landlord & Tenant Act 1954 impact my business offices in Bridgend and how can you help?
The 1954 Act gives a safeguard to business lessees, giving them the right to make a request to court for a renewal lease and continue in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Bridgend is one of the many locations in which our lawyers have offices
My 20yr old son is about to join the property ladder, the home loan was agreed last week in principle. When the offer was accepted on flat we called the mortgage company to progress the mortgage application. I was disappointed to hear that mortgage companies do not accept all property lawyer, they need to be on their approved list, is this legal?
Banks normally imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Bridgend conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.