We're in Cardiff, FTBs purchasing with a mortgage (lender is UBS , and our lawyer is on the UBS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the UBS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer 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.
We are purchasing a apartment in Cardiff. It might be a silly question but how we can trust a conveyancer? On completion day we have to put our life savings into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am helping my step-mother sell her house in Cardiff. Will the conveyancer arrange an EPC or should I organise this?
After the abolition of Home Packs, EPC’s became a mandatory element of moving property. An energy assessment must be to hand prior to the property being put on the market. This is not a task that lawyers ordinarily organise. If you are instructing a Cardiff conveyancing lawyer they may be willing to arrange EPC’s due to their contacts with long established Cardiff providers
I have decided to exercise my right to buy my property in Cardiff off the council. I have a mortgage offer with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
I have been told that property searches are the number one reason for delay in Cardiff conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Cardiff.
I'm buying a new build house in Cardiff with a loan from Nottingham Building Society. The builders would not move on the price so I negotiated £7000 of additionals instead. The estate agent advised me not inform my solicitor about this side-deal as it will jeopardize 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.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £250,000 flat in Cardiff in 10 days. The management company has quoted £372 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is the landlord entitled to charge such fees for a leasehold conveyance in Cardiff?
Cardiff conveyancing on leasehold flats normally necessitates the buyer’s solicitor submitting enquiries for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are at liberty to levy a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some cases it is above £800. The management information fee invoiced by the landlord must be accompanied by a summary of rights and obligations in respect of administration charges, without which the charge is not strictly payable. Reality however dictates that one has no option but to pay whatever is demanded should you wish to complete the sale of your home.
I am the registered owner of a split level flat in Cardiff, conveyancing having been completed in 2004. How much will my lease extension cost? Similar flats in Cardiff with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2096
With just 71 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first getting professional advice.
My mum and dad cant seem to find their Cardiff property on the HM Land Registry site. They have a vague recollection fifty years ago when they purchased the property there were complications with Cardiff not being identified on some systems.
Nearly all residences in Cardiff should appear. Have you endevoured to search with simply the postcode. Usually it will disclose all the residences within the postcode. Assuming the property is registered it will show up with a title number. Where they bought back in the 70’s it's conceivable it may be not yet registered. The property may still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title documentation which may be with your parent’s bank.