I have just been advised by my financial adviser that my Bridgend property lawyer is not on the lender Solicitor panel. What can I do to be sure if this is correct?
You need to call your Bridgend lawyer directly. You lawyer should advise you of the situation. Where they are not on the panel they may recommend you to a Bridgend conveyancing firm that is on the conveyancing panel for your bank.
I am buying a new build house in Bridgend with a mortgage from Bank of Ireland. The sellers refused to reduce the amount so I negotiated 6k of additionals instead. The property agent told me not inform my solicitor about this side-deal as it could put at risk my loan with Bank of Ireland. Do I keep my lawyer in the dark?.
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 house in Bridgend before retaining conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend not give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bridgend. Conveyancing may be slightly more expensive based on your lender's requirements.
My partner has recommend that I use his conveyancing solicitors in Bridgend. Do I follow his recommendation?
There are no two ways about it the ideal way to find a conveyancing solicitor is to get feedback from friends or relatives who have actually experience in using the firm you're are thinking of instructing.
I have just appointed agents to market my garden apartment in Bridgend. Conveyancing lawyers have not yet been instructed, but I have just had a half-yearly maintenance charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as usual as all rents and service invoices should be apportioned on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I bought a ground floor flat in Bridgend, conveyancing having been completed in 2008. Can you work out an approximate cost of a lease extension? Similar properties in Bridgend with over 90 years remaining are worth £191,000. The ground rent is £55 levied per year. The lease ceases on 21st October 2080
With 54 years unexpired the likely cost is going to be between £31,400 and £36,200 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above 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 a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
I am purchasing a flat with all finances in place. My solicitor has been given with two distinct evidence of photographic identification, bank statement, multiple utility bills. Now he requires a copy from a probate lawyer acknowledging that the funds are in place and that it has come from inheritance and not selling fake watches.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Bridgend conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.