It is a dozen years since I bought my home in Caldicot. Conveyancing solicitors have just been appointed on the sale but I can't find my deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a possibility that the deeds will be retained by the mortgage company or they may be in the possession of the conveyancers who oversaw your purchase. Secondly the chances are that the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring up to date copy of the land registers. Most conveyancing in Caldicot relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
I am buying a new build flat in Caldicot. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Caldicot
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There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Caldicot is the location of the property. Can you shed any light on this issue?
Flying freeholds in Caldicot are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Caldicot you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Caldicot may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
We're FTB’s - agreed a price, yet the selling agent has warned us that the vendor will only issue a contract if we use their recommended conveyancers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is accustomed to conveyancing in Caldicot
We suspect that the owner is not behind this request. Should the vendor want ‘a quick sale', turning down a serious buyer is going to damage their objectives. Contact the vendors directly and make sure they understand (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Caldicot conveyancing firm - as opposed tothose that will earn the negotiator at the agency a kickback or meet his conveyancing targets demanded by corporate headquarters.
I am tempted by the attractive purchase price for a two apartments in Caldicot which have in the region of fifty years remaining on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the premises for a period of time. As the lease gets shorter the saleability of the lease reduces and it becomes more expensive to acquire a lease extension. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We advise that you seek professional help from a solicitor and surveyor with experience in this field.
I purchased a ground floor flat in Caldicot, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Equivalent flats in Caldicot with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease terminates on 21st October 2086
You have 61 years remaining on your lease we estimate the price of your lease extension to span between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information without first getting professional advice.
I require the services of a mortgage company panel solicitor in Caldicot. Could you help me?
It is not clear why you need a Caldicot panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Caldicot are on their panel . If you do find such a firm in Caldicot not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site