Completed the sale of my flat in Mountain Ash last November yet the purchaser is calling daily to moan that their conveyancer is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Post completion of your disposal your lawyer should send the transfer deeds and all supplemental paperwork to the purchaser's conveyancer. If applicable, your solicitor should also evidence that the home loan has been redeemed to the purchasers lawyers. There are no post completion steps specific conveyancing in Mountain Ash.
Will commercial conveyancing searches disclose planned roadworks that could affect a commercial estate in Mountain Ash?
Its becoming the norm that commercial conveyancing solicitors in Mountain Ash will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Mountain Ash. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Mountain Ash.
For every commercial conveyancing transaction in Mountain Ash it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Mountain Ash commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Mountain Ash.
I own a 4 bedroom Georgian property in Mountain Ash. Conveyancing solicitor represented me and Barclays . I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Mountain Ash and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the position with your conveyancing solicitor who conducted the purchase.
I'm buying a new build house in Mountain Ash with the aid of help to buy. The sellers refused to move on the price so I negotiated 6k of extras instead. The estate agent suggested that I not inform my lawyer about this deal as it could adversely affect my loan with Chelsea Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Mountain Ash I like with amenity areas and transport links nearby, the downside is that it only has 61 years on the lease. There is not much else in Mountain Ash suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a home loan that many years may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
What makes a Mountain Ash lease defective?
Leasehold conveyancing in Mountain Ash is not unique. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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A duty to insure the building
You could encounter difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, The Royal Bank of Scotland, and Clydesdale all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, forcing the buyer to pull out.
I own a 1st floor flat in Mountain Ash, conveyancing formalities finalised in 1998. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Mountain Ash with over 90 years remaining are worth £206,000. The ground rent is £45 levied per year. The lease ceases on 21st October 2091
With only 66 years remaining on your lease we estimate the price of your lease extension to be between £11,400 and £13,200 plus professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.