Will lawyers ask for an advanced payment when it comes to conveyancing in Machen?
If you are buying a property in Machen your lawyer will request that you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is payable against the purchase price then this should be required immediately prior to contracts are exchanged. Any further balance that is due will be payable shortly before completion.
I'm the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the house in Machen. Conveyancing formalities meant that the Land Registry date was in February. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship may be regarded the same way as if I'd bought the property in February. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view lenders take of it, depend on the mortgage company as this obligation is primarily there to pick up on the purchase and immediately sell or the flipping of properties.
HSBC have agreed my home loan in principle, my bid on a house in Machen has been agreed to, what happens next?
Your property agent will wish to know who your solicitors are (make sure the lawyers are on the lender’s panel). Contact HSBC or your financial adviser and finalise any relevant paperwork. HSBC will appoint a valuer who will get in touch with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average a week for the mortgage offer to be issued. HSBC will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Machen.
At last I have had an offer on a flat in Machen accepted, but there is a chain. The vendors have placed an offer on somewhere, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have chosen a local conveyancing solicitor in Machen. What should be my next step? At what stage should I apply for the mortgage with HSBC?
It is normal to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of one thousand pounds, then valuation, Machen conveyancing search fees, etc). The first course of action is to check that your conveyancing practitioner is on the HSBC conveyancing panel. As to the subsequent steps this very much dictated by the specifics of your case, attraction to the property and on the state of the market. During a hot market some home buyers would apply for the mortgage with HSBC and pay for the valuation and only if it comes back ok would they ask their conveyancing practitioner to move forward with the conveyancing in Machen.
We are intent on selling our home in Machen and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Machen lawyer would know that there is no such problem. For the life of me I don't know why the buyers used a national conveyancing firm rather than a conveyancing solicitor in Machen. We have lived in Machen for six years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I used Arc property Solicitors several years past for my conveyancing in Machen. Now, I need the documents however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Machen of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
In my capacity as executor for the will of my aunt I am disposing of a residence in Newport but reside in Machen. My conveyancer (who is 300 miles awayrequires that I execute a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Machen who can attest this legal document for me?
Technically speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Machen based
I am intending to sublet my leasehold apartment in Machen. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
Even though your previous Machen conveyancing solicitor is not around you can check your lease to see if you are permitted to let out the apartment. The rule is that if the deeds are non-specific, subletting is allowed. There may be a precondition that you need to obtain permission from your landlord or some other party in advance of subletting. The net result is that you cannot sublet without prior permission. Such consent should not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord if they are willing to waive this restriction.
I invested in buying a 2 bed flat in Machen, conveyancing having been completed 7 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Machen with an extended lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced annually. The lease finishes on 21st October 2103
You have 78 years remaining on your lease we estimate the premium for your lease extension to be between £7,600 and £8,800 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns 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 before seeking the advice of a professional.