Finally the sale completed on my house in Pencoed last July but the buyer keeps Skype messaging daily complaining that her solicitor is waiting to hear from mine. What are the post completion sale formalities following completion?
After completion of your sale your conveyancer is obliged to forward the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Where relevant, your conveyancer should also send confirmation that the mortgage has been paid off to the purchasers lawyers. There is unlikely to be post completion procedures unique to conveyancing in Pencoed.
My wife and I purchasing a 3 bedroom semi in Pencoed. We would like to an extension at the rear at the house.Will legal conveyancing on the property involve investigations to ascertain if these alterations are permitted?
Your solicitor should review the registered title as conveyancing in Pencoed can sometimes identify restrictions in the title documents which restrict certain works or necessitated the consent of another owner. Certain additions call for local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
I am purchasing a property in Pencoed. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender UBS be concerned?
Given that your lender is UBS your lawyer must check the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for UBS. The CML Handbook sets out minimum specifications for solar panel roof-space leases, and solicitors are required to report to UBS where a lease does not comply with these requirements. The specifications relate to the installation of panels on properties countrywide and is not limited to Pencoed.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Pencoed bank branch on numerous occasions and was told it wasn't an issue and they will lend. My Pencoed conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their specific requirements. Who do I believe?
The lawyer has to comply with the CML Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am purchasing a new build house in Pencoed with a loan from Skipton Building Society. The sellers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not inform my lawyer about this deal as it will put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 number of property agents in Pencoed to locate a property lawyer using your seach tool. What’s the financial inducement for Estate Agents to market your site over and above alternative conveyancing organisations?
We don’t give any referral fee for pointing buyers and sellers to this site. We found it would be just too difficult a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to appoint a conveyancing solicitor for sale conveyancing in Pencoed. I've land on a site which looks to be the ideal answer If there is a chance to get all this stuff done via phone that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What are your top tips when it comes to finding a Pencoed conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Pencoed conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of work. We recommend that you talk with several firms including non Pencoed conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions could be useful:
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Can they put you in touch with clients in Pencoed who can give a testimonial?
I inherited a 1st floor flat in Pencoed, conveyancing having been completed half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Pencoed with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease finishes on 21st October 2091
With 66 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 plus costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before seeking the advice of a professional.