Why is leasehold purchase conveyancing in Fairwater is more expensive?
In short, leasehold conveyancing in Fairwater and Cardiff usually necessitates extra due diligence compared to freehold conveyancing. This includes reviewing the lease, corresponding with the landlord concerning the service of applicable notices, procuring up-to-date service charge and management information, securing the landlord’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 – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Various online forums that I have frequented warn that are a common reason for stalling in Fairwater house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Fairwater.
It has been three months following my purchase conveyancing in Fairwater took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, no chain conveyancing. Fairwater is the location of the property. Can you shed any light on this issue?
Flying freeholds in Fairwater are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fairwater you must be sure that your lawyer goes 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 Fairwater 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 residence.
How can the Landlord & Tenant Act 1954 affect my business premises in Fairwater and how can your lawyers assist?
The particular law that you refer to provides a safeguard to commercial lessees, giving them the right to apply to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and help with commercial conveyancing in Fairwater
My step-mother purchased her house in Fairwater 9 years ago. She has since got married, divorced and has recently remarried. She wishes to market the house in a few weeks. I suspect that she will just be asked to supply copies of her marriage certificates to the property lawyer however she is anxious it will frustrate the sale of the house. Should she instruct a conveyancing practitioner to update the title details for the property?
It is not absolutely necessary to update the title for the property providing you have the evidence needed to show how the change of name occurred.
Any buyer’s solicitor will examine the registered entries and request evidence to establish the name change e.g. marriage certificates.