My wife and I are planning to purchase a 3 bedroom flat in Llandaff with a mortgage. We wish to retain our Llandaff solicitor, but the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel firms or keep our Llandaff solicitor and pay for one of their panel firms to act for them. This feels very unfair; can we not require that the mortgage company use our Llandaff property lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Llandaff conveyancing lawyer to apply to be on the conveyancing panel.
I am purchasing a new build flat in Llandaff. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Llandaff you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Llandaff.
Have completed on a a semi-detached house in Llandaff , What is the estimated time for the Land Registry to register the transfer to my name? My Llandaff conveyancing solicitor works at snail pace, so I want to be certain the land registry aspects are dealt with.
As far as conveyancing in Llandaff registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timescales can vary according to who lodges the application, whether there are errors and whether the Land registry communicate with any third persons or bodies. Currently in the region of 80% of such applications are completed within two weeks but occasionally there can be longer delays. Registration takes place once the buyer has moved in to the property thus post completion formalities is not usually an essential issue yet if there is a degree of urgency associated with the registration then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
I have been on the look out for a leasehold apartment up to £235,500 and identified one near me in Llandaff I like with a park and transport links in the vicinity, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Llandaff for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan that many years will be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months 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 term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I am looking into buying my first house which is in Llandaff and I am already nervous. I couldn't find anything specific about Llandaff. Conveyancing will be needed in due course but do you know about the Llandaff area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Llandaff. In the meantime here are some basic statistics that we found
Are there frequently found problems that you witness in leases for Llandaff properties?
Leasehold conveyancing in Llandaff is not unique. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
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Insurance obligations
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, Leeds Building Society, and TSB all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, forcing the purchaser to pull out.
I purchased a 2 bed flat in Llandaff, conveyancing having been completed March 2000. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent properties in Llandaff with a long lease are worth £216,000. The ground rent is £50 levied per year. The lease ends on 21st October 2094
With just 70 years left to run the likely cost is going to range between £9,500 and £11,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.