I am obtaining a mortgage offer from Halifax. I intend to enlist the help of a Licensed Conveyancer in Caerphilly. Does the Halifax Conveyancing panel include conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
The vendors of the home we are hoping to buy have appointed a conveyancing solicitor in Caerphilly who has insisted on a exclusivity agreement with a payment 10k. Are such agreements sensible?
There are two primary downsides with signing a lock out agreement (occasionally known as an exclusivity agreement) is that it can distract from progressing with the conveyancing work, so unless it requires minimal or no negotiation then it may turn out to be a hindrance. It is not promoted by Caerphilly conveyancing solicitors for this reason. The other main issue is the extent of the remedies available - a jilted buyer is not likely to be issued with an injunctive ruling by a court to stop the vendor completing the sale to an alternative purchaser, so the only remedy open via the agreement will be the recovery of wasted charges and, in limited circumstances, the extra payment of damages.
We're in Caerphilly, First time buyers purchasing with a mortgage (lender is Yorkshire BS , and our lawyer is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
About to purchase a new build apartment in Caerphilly. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Caerphilly
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Forfeiture - bankruptcy or liquidation must not apply under this provision. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
As co-executor for the will of my grandmother I am selling a residence in Swansea but live in Caerphilly. My lawyer (approximately 250 miles from meneeds me to execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in Caerphilly who can attest and place their company stamp on the document?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Caerphilly based
What makes a Caerphilly lease unacceptable for security purposes?
Leasehold conveyancing in Caerphilly is not unique. Most leases are unique and drafting errors can sometimes mean that certain provisions are missing. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage A provision to repair to or maintain elements of the building
A defective lease will likely cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, Bank of Scotland, and Alliance & Leicester all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, forcing the buyer to pull out.
I invested in buying a 1st floor flat in Caerphilly, conveyancing was carried out half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar flats in Caerphilly with over 90 years remaining are worth £260,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease comes to an end on 21st October 2099
You have 75 years left to run the likely cost is going to range between £8,600 and £9,800 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed due diligence. You should not use this information in tribunal or court proceedings. There may be other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.