My partner and I are purchasing our first property. Our conveyancer has contact usto enquire if we want to purchase extra conveyancing searches. Unfortunately we are clueless as to what's recommended for conveyancing in Cardiff Bay
The range of Cardiff Bay conveyancing searches depends primarily on the premises, the location, the probability of any of these risks, your knowledge of the region and risks, your overall appetite to risk. What is important is that you adequately comprehend what information each search could give you. Then you can decide if you personally think you need that information. Should you be unclear, ask your conveyancer to explain.
Is there a reason why leasehold purchase conveyancing in Cardiff Bay is more expensive?
In short, leasehold conveyancing in Cardiff Bay and Cardiff usually involve additional work compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord concerning serving appropriate notices, obtaining current service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first granted.
My wife and I have recently appointed a conveyancing solicitor in Cardiff Bay. I need to find out whether they are accepted on the Bank of Ireland approved list of lawyers. Can you advise?
The first thing to do is contact your solicitor and ask them if they are on the lender panel. Otherwise you can get in touch with Bank of Ireland who may be able to assist.
I'm purchasing my first flat in Cardiff Bay benefiting from help to buy. The developers would not budge the amount so I negotiated 6k of extras instead. The house builders rep told me not inform my solicitor about the deal as it would impact my mortgage with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the input of my in-laws I had a survey completed on a house in Cardiff Bay ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies may refuse to issue a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. Should you wish to call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cardiff Bay. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to swap lawyers as my Cardiff Bay lawyer is not on the mortgage company's approved list of conveyancing solicitors. Is it advisable to appoint a new law firm?
In the event that you have not formally instructed a conveyancer to commence the conveyancing and have just received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Cardiff Bay that you're considering.