I have just been advised by my estate agent that my Bridgend lawyer is not on the mortgage company Conveyancing panel. How can I check?
Your first step should be to contact your Bridgend conveyancer. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may recommend you to a Bridgend conveyancing firm that is on the conveyancing panel for your mortgage company.
I own a freehold residence in Bridgend yet invoiced for rent, why is this and what is this?
It is rare for properties in Bridgend and has limited impact for conveyancing in Bridgend but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I have been told that property searches are the primary reason for hinderance in Bridgend house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Bridgend.
I am looking into buying my first house which is in Bridgend and I am already nervous. I couldn't find anything specific about Bridgend. Conveyancing will be needed in due course but do you know about the Bridgend area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Bridgend. In the meantime here are some basic statistics that we found
I've recently bought a leasehold flat in Bridgend. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner 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. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
Bridgend Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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It would be sensible to discover as much as possible regarding the company managing the building as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. You should not be afraid to ask prospective neighbours what they think of them. In conclusion, be sure you know the dates that the maintenance charges are due to the relevant party and specifically how they are spending the funds. This information is important as a) areas can cause problems in the block as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have an issue with the managing agents you will need to have all the details Who are the managing agents?
Our lender agreed in principle to give us a mortgage. We instructed a high street conveyancer in Bridgend two days ago. Today, our broker called to say that the lender said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we did not have a clue that the mortgage company had a say Is this permitted?
You can actually use any lawyer you prefer to select for your conveyancing in Bridgend but if your bank aren't happy with them you would have to incur an extra fee so your lender can instruct their own solicitors as well to protect their interest. sometimes it is conceivable that your solicitor may apply to get added to the lender panel. Do make the most of internet search facilities such as lenderpanel.com to find a conveyancing solcitor in Bridgend on the bank panel. You can go into your high street bank branch in Bridgend. They can recommend conveyancing solicitors in Bridgend on the panel for your bank.