Two weeks ago we had a mortgage agreed in principle with HSBC. Cyncoed conveyancing practitioners are appointed. How long does it take for HSBC to send the offer to the lawyer?
There is no definitive answer here. Have HSBC conducted the valuation? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am currently in the process of buying my council flat in Cyncoed. I have a mortgage offer with Nationwide. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
Completion of my remortgage has taken place for my property in Cyncoed. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Various online forums that I have visited warn that are the main cause of obstruction in Cyncoed house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Cyncoed.
How does conveyancing in Cyncoed differ for new build properties?
Most buyers of new build premises in Cyncoed come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Cyncoed usually purchase 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 Cyncoed or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Cyncoed is where the house is located. Can you shed any light on this issue?
Flying freeholds in Cyncoed are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cyncoed you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cyncoed may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
What does commercial conveyancing in Cyncoed cover?
Non domestic conveyancing in Cyncoed covers a broad array of advice, supplied by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I am looking at a two maisonettes in Cyncoed which have about 50 years left on the leases. Do I need to be concerned?
A lease is a right to use the premises for a prescribed time frame. As the lease gets shorter the value of the lease decreases and results in it becoming more costly to acquire a lease extension. This is why it is often a good idea to extend the lease term. It is often difficulties arise selling premises with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease extension can be a difficult process. We recommend you get professional help from a conveyancer and surveyor with experience in this field.
Leasehold Conveyancing in Cyncoed - Sample of Questions you should ask before Purchasing
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How is the lease structured? What is the annual maintenance fee and ground rent? Who takes charge for maintaining and repairing the building?