Why would I appoint a Penarth conveyancing solicitors firm given that national alternatives are so much cheaper?
To take your time to find compare conveyancing costs in Penarth and you should seek a competitive fee calculation but don’t be focused with getting the lowest priced Penarth conveyancer. Locating the right conveyancer can be the distinction between a seamless and a stressful house move. It is important that you ensure that you have expert guidance from a trusted solicitor. An e-mail can never take the place of a telephone conversation and are no substitute for a face to face meeting. Our partner firms will allocate you a qualified and experienced conveyancing solicitor who can handle your conveyancing from from the outset to completion, giving the sort of hand holding that you will never get with an internet conveyancer. Our lawyers will update you as to progress and keep you informed. Should it ever be necessary to phone the office you will know who you need to speak to and we'll endeavour to make sure that you are in the know.
My fiance and I are refinancing our penthouse in Penarth with Principality. We have a son approaching twenty who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of questions (1) Is this form unique to the Principality conveyancing panel as he did not need to sign this form when we bought 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality. This is solely used to protect Principality if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am the registered owner of a freehold property in Penarth but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Penarth and has limited impact for conveyancing in Penarth but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Should our conveyancer be making enquiries regarding flooding during the conveyancing in Penarth.
Flooding is a growing risk for lawyers dealing with homes in Penarth. There are those who buy a house in Penarth, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, but there are a various searches that can be initiated by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Penarth. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the owner to discover whether the property has suffered from flooding. If the residence has been flooded in past and is not revealed by the seller, then a buyer could issue a compensation claim as a result of such an inaccurate response. The purchaser’s lawyers will also conduct an environmental search. This will reveal whether there is a recorded flood risk. If so, further inquiries will need to be carried out.
I'm purchasing a new build house in Penarth with a loan from Britannia. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The house builders rep advised me not disclose to my solicitor about the deal as it could put at risk my mortgage with the lender. 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.
I was recommended by a few selling agents in Penarth to choose a solicitor using your seach tool. Is there a financial inducement for Estate Agents to promote your lawyers ahead of another?
We don’t offer any referral fee for directing people our way. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.