I require conveyancing for a flat in a fairly new development (five years built) in Llanrhystud. The vast majority the appartments have already been sold. Is it strictly necessary to order conveyancing searches for my conveyancing in Llanrhystud?
Where you are obtaining a mortgage, your lender will insist on some (many) of the searches so you'll have no choice. If not, then Llanrhystud conveyancing searches are for you to decide upon. No doubt your conveyancer, will ’encourage’, perhaps in the strongest possible terms, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or you will need to change to an alternative solicitor for your conveyancing in Llanrhystud.
Completed the sale of my flat in Llanrhystud last March but the buyer keeps SMS messaging daily complaining that their lawyer needs to hear from mine. What are the post completion sale formalities following completion?
Following your disposal your lawyer should send the transfer documentation and all of the paperwork to the purchaser's conveyancer. Where appropriate, your solicitor must also confirm that the legal charge in favour of the lender has been redeemed to the buyers lawyers. There are no post completion formalities just for conveyancing in Llanrhystud.
We had appointed conveyancers based in Llanrhystud on the Lloyds solicitor panel. They are now charging me an additional amount for dealing with the Lloyds mortgage. Is this a supplemental conveyancing fee set by Lloyds?
Provided it is contained in their Terms of Engagement or estimate then yes your conveyancer can levy a fee for this. The charge is not set by Lloyds but by your Llanrhystud conveyancing practitioner. Some firms on the Lloyds panel will quote ’dealing with mortgage’ fee and others do not.
The mortgage over my property is with Yorkshire BS for my property in Llanrhystud. Conveyancing has been completed months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Yorkshire BS?
You must advise Yorkshire BS before letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel firm.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Llanrhystud solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Llanrhystud postcode. As you are getting a mortgage with Skipton, you could contact them to see if they have a list of approved surveyors in Llanrhystud.
It has been 4 months following my purchase conveyancing in Llanrhystud took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. 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.
How does conveyancing in Llanrhystud differ for new build properties?
Most buyers of new build residence in Llanrhystud approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is constructed. This is because builders in Llanrhystud usually purchase the land, 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 used to new build conveyancing in Llanrhystud or who has acted in the same development.
Planning to complete next month on a studio apartment in Llanrhystud. Conveyancing lawyers have said that they will have a report out to me within the next couple of days. What should I be looking out for?
The report on title for your leasehold conveyancing in Llanrhystud should include some of the following:
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Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? Repair and maintenance of the premises Whether your lease has a provision for a slush fund? Are you allowed to have a pet in the flat?
I inherited a garden flat in Llanrhystud, conveyancing having been completed 10 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Llanrhystud with over 90 years remaining are worth £165,000. The ground rent is £50 yearly. The lease runs out on 21st October 2103
With just 77 years left to run we estimate the price of your lease extension to span between £7,600 and £8,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to provide the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.