It is a dozen years since I acquired my property in Llandaff North. Conveyancing solicitors have just been instructed on the sale but I am unable to track down the title documents. Will this cause complications?
Don’t worry too much. First the deeds may be kept by the lender or they could still be with the solicitor who oversaw your purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing solicitors acquiring up to date copy of the land registers. Nearly all conveyancing in Llandaff North involves registered property but in the unlikely event that your property is unregistered it is more problematic but is not insurmountable.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Llandaff North. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 13/11/2024, the requirements read as follows :
I'm buying a new build house in Llandaff North with a loan from Halifax. The sellers refused to budge the amount so I negotiated 6k of additionals instead. The house builders rep advised me not to tell my solicitor about the extras as it would affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the input of my in-laws I had a survey completed on a house in Llandaff North before instructing solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies may not grant a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you contact us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Llandaff North. Conveyancing will be smoother if you use a solicitor in Llandaff North especially if they regularly deal with such properties in Llandaff North.
How does the Landlord & Tenant Act 1954 impact my business premises in Llandaff North and how can your lawyers assist?
The particular law that you refer to provides protection to commercial tenants, giving them the a statutory right to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Llandaff North
I am tempted by the attractive purchase price for a two maisonettes in Llandaff North which have in the region of 50 years unexpired on the leases. should I be concerned?
A lease is a right to use the property for a period of time. As a lease shortens the marketability of the lease deteriorates and results in it becoming more costly to acquire a lease extension. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease as mortgage companies less inclined to grant a loan on properties of this type. Lease enfranchisement can be a protracted process. We recommend you get professional assistance from a solicitor and surveyor with experience in this field.
Leasehold Conveyancing in Llandaff North - Examples of Questions you should ask Prior to Purchasing
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On the whole the outlay for major works are not included within maintenance charges, albeit that some managing agents in Llandaff North require leaseholders to contribute towards a sinking fund created for the specific purpose of building a fund for major works. You should want to find out as much as possible about the company managing the building as they will either make life much simpler or uncomfortable. As the owner of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to daily matters such as the cleanliness of the communal areas. You should not be shy to ask other people what they think of them. Finally, find out the dates that the maintenance fees are due to the managing agents and precisely how they are spending that money. Best to be warned whether a new roof is being installed or some other major work is coming up that will be shared by the tenants and could well materially increase the the maintenance costs or require a specific payment.