What happens if my solicitor is removed from the Aldermore Solicitor panel ahead of completing my conveyancing in Caerleon?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My partner and I are planning on selling our house in Caerleon and according to the buyers it appears that there is a risk of it being constructed on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the buyers used a national conveyancing firm rather than a conveyancing solicitor in Caerleon. We have lived in Caerleon for 4 years we know of no issue. Do we get in touch with our local Authority to seek clarification need.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Are there restrictive covenants that are commonly picked up as part of conveyancing in Caerleon?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Caerleon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing my first flat in Caerleon benefiting from help to buy. The sellers would not move on the amount so I negotiated 6k of additionals instead. The property agent suggested that I not reveal to my conveyancer about this extras as it will adversely affect my loan with the lender. 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.
I decided to have a survey done on a property in Caerleon before instructing conveyancers. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks tend not issue a loan on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Caerleon. Conveyancing may be slightly more expensive based on your lender's requirements.
What advice can you give us when it comes to appointing a Caerleon conveyancing firm to deal with our lease extension?
If you are instructing a conveyancer for lease extension works (regardless if they are a Caerleon conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you talk with several firms including non Caerleon conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be useful:
-
What are the costs for lease extension work? How familiar is the firm with lease extension legislation?
Leasehold Conveyancing in Caerleon - Examples of Questions you should ask before Purchasing
-
The prefered form of lease arrangement is where the freehold title is owned by the leaseholders. In this arrangement the leaseholders enjoy control and although a managing agent is frequently retained if it is larger than a house conversion, the managing agent is directed by the tenants. You should be aware if it is no more than eighty years it will have adverse implications on the salability of the flat. It is worth checking with your bank that they are content with the length of the lease. Leases with less than 80 years remaining means that you will almost definitely have to extend the lease at some point and it is worth discovering how much this would cost. Remember, in most cases you would be required to have owned the residence for two years in order to be entitled to exercise a lease extension. How many of the leaseholders are in arrears for their service charge payments?