I was informed yesterday by my estate agent that my Cardiff Bay property lawyer is not on the mortgage company Conveyancing panel. What can I do to check?
The best course of action for you to take is to call your Cardiff Bay conveyancer. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they may be able to suggest a Cardiff Bay conveyancing firm that is on the approved list of lawyers for your mortgage company.
Various web forums that I have come across warn that are a common cause of delay in Cardiff Bay conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Cardiff Bay.
I'm buying a new build house in Cardiff Bay with a loan from Santander. The sellers refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep advised me not to tell my lawyer about this deal as it may affect my mortgage with Santander. Is this normal?.
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.
Given that I am about to spend 450k on 3 bedroom house in Cardiff Bay I would like to talk to a conveyancer about myhome move before instructing the firm. Can this be arranged?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your property ownership legalities in Cardiff Bay.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The law firms that we put you in touch with believe that the figure you are quoted for your conveyancing in Cardiff Bay should be the figure that you end up paying.
In my capacity as executor for the estate of my father I am selling a residence in Neath but reside in Cardiff Bay. My conveyancer (based 235 kilometers awayneeds me to sign a stat dec prior to completion. Can you recommend a conveyancing solicitor in Cardiff Bay to attest this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Cardiff Bay
I've found a house that seems to meet my requirements, at a reasonable price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Cardiff Bay. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cardiff Bay ?
Most houses in Cardiff Bay are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cardiff Bay in which case you should be looking for a Cardiff Bay conveyancing solicitor and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease comes with conditions such as obtaining the landlord’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will report to you on the legal implications.
Leasehold Conveyancing in Cardiff Bay - Sample of Questions you should consider before Purchasing
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What restrictions exist in the Cardiff Bay Lease? How many of the leaseholders are in arrears for their maintenance charge payments? Generally speaking the cost for major works tend not to be included within service charges, albeit that a few managing agents in Cardiff Bay require tenants to contribute towards a reserve fund and this is used to offset against major repairs or maintenance.