The property market in Cardiff Bay is heating up. What can I do to expedite matters?
First, If the seller is applying a tight deadline for your conveyancing we would recommend that your conveyancer is familiar with the location as they will make use of local contacts and know-how. It is possible that they could have handled otherhouses in the same street. You would be best advised to use a Cardiff Bay conveyancing firm. In addition, make sure that the lawyer is on the on the approved list for your mortgage company. It is believed that 18% of Cardiff Bay conveyancing transactions are frustrated or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the transaction being frustrated by an average of 21 days. It is said that this issue impacts in the region of 100,000 home sales every year. Most Cardiff Bay conveyancing practices can not act for certain banks so do check as early as possible.
I have paid off my mortgage with Skipton. I assume I don't need a Cardiff Bay solicitor on the Skipton panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Skipton mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Skipton mortgage from the register. Skipton, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Skipton has sent the Land Registry the discharge electronically, and
- Skipton has instructed the Land Registry to do so
After much negotiation I have agreed a price on a house in Cardiff Bay. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A couple of days later, the property lawyer called me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a house in Cardiff Bay. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cardiff Bay conveyancing practitioner is on the Coventry BS conveyancing panel.
Do commercial conveyancing searches reveal proposed roadworks that could affect a commercial site in Cardiff Bay?
Many commercial conveyancing solicitors in Cardiff Bay will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Cardiff Bay. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cardiff Bay.
For every commercial conveyancing transaction in Cardiff Bay it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Cardiff Bay commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Cardiff Bay.
How does conveyancing in Cardiff Bay differ for newly converted properties?
Most buyers of new build residence in Cardiff Bay contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Cardiff Bay tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Cardiff Bay or who has acted in the same development.
I have been sourcing a conveyancing solicitor in Cardiff Bay for my house move. Is it possible to see a solicitor's record with the profession’s regulator?
Members of the public can search for published Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator could recorded telephone calls for training reasons.
I today plan to offer on a house that seems to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just been informed that the title is leasehold rather than freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Cardiff Bay. Conveyancing lawyers have not yet been appointed. Will my lawyers set out the implications of buying a leasehold house in Cardiff Bay ?
The majority of houses in Cardiff Bay are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are buying in Cardiff Bay in which case you should be shopping around for a Cardiff Bay conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the upkeep of the communal areas where the house is part of an estate. Your lawyer should appraise you on the various issues.
Cardiff Bay Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
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It is important to be aware if window replacement or some other major work is anticipated to be shared amongst the tenants and could well dramatically impact the level of the service fees or require a one time payment. It would be sensible to find out if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Cardiff Bay. If you love the propertyin Cardiff Bay yet your dog is not allowed to move with you then you have a very difficult decision. Plenty Cardiff Bay leasehold apartments will be liable to pay a service bill for the upkeep of the building set on behalf of the landlord. Should you acquire the apartment you will have to meet this contribution, usually in instalments throughout the year. This may differ from several hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a ground rent for you to pay yearly, ordinarily this is not a large figure, say approximately £25-£75 but you need to enquire it because sometimes it can be surprisingly expensive.