We decided to go with a high street solicitor for our conveyancing in Neath Abbey last week. Upon checking the Terms and Conditions it is apparent thatwe are on the hook for costs even if the movedoes not happen. Should I ditch them and instruct an internet conveyancing brokerage who offer no completion no cost conveyancing in Neath Abbey?
Generally there is a compromise along the lines that if "No Sale No Fee" is advertised then the fee levels will tend to be be more expensive to offset those transactions that fail to complete. Dont forget that such offerings generally do not cover disbursements e.g. Neath Abbey conveyancing search charges.
A relative suggested that where I am purchasing in Neath Abbey I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Neath Abbey conveyancing searches. It is a large report of about 40 pages, listing and detailing important information about Neath Abbey around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Neath Abbey Education with maps and statistics, Local Amenities and other useful information regarding Neath Abbey.
3 months have elapsed since my purchase conveyancing in Neath Abbey completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. 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 asset 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.
I am buying my first flat in Neath Abbey with the aid of help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about this deal as it will adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Is it simple use the search tool to locate a conveyancing solicitor in Neath Abbey on the panel for my mortgage?
Step one is to select a mortgage company such as Yorkshire Building Society, Barnsley Building Society or Alliance & Leicester then type in your location for example Neath Abbey. Conveyancing firms in Neath Abbey and nationally should be shown.
When it comes to leasehold conveyancing in Neath Abbey what are the most common lease defects?
Leasehold conveyancing in Neath Abbey is not unique. Most leases are unique and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Repairing obligations to or maintain parts of the building
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Halifax, The Royal Bank of Scotland, and Alliance & Leicester 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, obliging the buyer to withdraw.
I bought a 1st floor flat in Neath Abbey, conveyancing formalities finalised 4 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar flats in Neath Abbey with a long lease are worth £171,000. The ground rent is £50 per annum. The lease ends on 21st October 2105
With just 79 years remaining on your lease we estimate the premium for your lease extension to span between £8,600 and £9,800 as well as costs.
The figure above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first getting professional advice.