My wife and I are looking to acquire a home in Cefn Mawr and are in fact using a Cefn Mawr conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Platform Home Loans Ltd have this evening contacted us to inform me that they have now hit a problem as our Cefn Mawr conveyancer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Cefn Mawr lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
What will a local search reveal regarding the house I am purchasing in Cefn Mawr?
Cefn Mawr conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as Searchflow The local search plays a central role in most Cefn Mawr conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
How does conveyancing in Cefn Mawr differ for newly converted properties?
Most buyers of new build property in Cefn Mawr come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because builders in Cefn Mawr 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 accustomed to new build conveyancing in Cefn Mawr or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one round the corner in Cefn Mawr I like with amenity areas and transport links in the vicinity, the downside is that it's only got 51 years on the lease. There is not much else in Cefn Mawr for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will likely be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
My company is looking to lease a unit on a shopping parade. Can you recommend solicitors offering no-sale-no fees for commercial conveyancing in Cefn Mawr for under £2000?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Cefn Mawr, including the disposal and purchase of businesses as well as simply premises. Whether you are looking to acquire or lease a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right lawyer. Regarding the fees this will depend on the structure and heads of terms of the deal. Please provide us with your contact information or telephone us so that we can provide you with a detailed commercial conveyancing calculation.
Should one remove a departed person's details from the title register for a house in Cefn Mawr?
Where a Cefn Mawr property is co-owned and one of the proprietors passes away, their name will not automatically be removed from the Land Registry title. It is not necessary to remove their name as when it comes to a disposal you would simply be asked to supply proof why the co owner is not a party to the conveyance, usually this is in the form of a grant of probate.
With a view to making the sale conveyancing more straight forward for the sale of the property you may arrange to have the deceased person erased from the title entries by applying to HMLR with proof of the death. There is no land registry fee payable.