The Croesyceiliog conveyancing firm handling our Croesyceiliog conveyancing has discovered an inconsistency when comparing the assumptions in the valuation survey and what is in the conveyancing documents. My solicitor has advised that he is duty bound to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
Can you explain why leasehold purchase conveyancing in Croesyceiliog costs more?
The conveyancing costs for a leasehold premises in Croesyceiliog is often higher than on a freehold residence. This is due to the supplemental investigations required in liaising with the freeholder and managing agents to collate the information about whether the rent and maintenance charges have been paid and whether there are any major works due in the foreseeable future on repairs or maintenance of the building.
My wife and I have a terraced Victorian property in Croesyceiliog. Conveyancing solicitor represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold under the matching address. Is it worth asking Bank of Ireland to clarify?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Croesyceiliog and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who conducted the conveyancing.
The estate agent has sent us the confirmation of our purchase of a new build flat in Croesyceiliog. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Croesyceiliog
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am looking for a ground for flat up to £235,500 and identified one round the corner in Croesyceiliog I like with a park and transport links nearby, the downside is that it only has 61 years on the lease. There is not much else in Croesyceiliog in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the shortness of the lease will be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Given that I am about to spend hundreds of thousands of pounds on a garden flat in Croesyceiliog I would like to have a conversation with the solicitor concerning thetransaction before appointing the firm. Is this something that you can arrange?
This is something that we recommend - we would be delighted to talk to you we do not take any clients on without you first talking to the conveyancer who will be conducting your conveyancing in Croesyceiliog.There is no ‘factory style conveyancing’ - every client is unique person, not a matter reference. The law firms that we put you in touch with believe that the figure you are quoted for residential conveyancing in Croesyceiliog should be the figure that you end up paying.