It has come to my attention via my lender that my Pentwyn solicitor is not on the mortgage company Conveyancing panel. What can I do to be certain whether this is indeed the case?
The first thing you need to do is to call your Pentwyn lawyer directly. You lawyer should advise you of the situation. Where they are not on the panel they may be able to suggest a Pentwyn conveyancing practice that is on the conveyancing panel for your mortgage company.
three months have elapsed following my purchase conveyancing in Pentwyn took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. 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.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Pentwyn. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Pentwyn
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I am looking for a ground for flat up to £235,500 and identified one near me in Pentwyn I like with a park and railway links nearby, however it only has 51 years on the lease. I can't really find anything else in Pentwyn suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years will be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
Hoping to buy a property located in Pentwyn and I am already nervous. I couldn't find anything specific about Pentwyn. Conveyancing will be needed in due course but do you know about the Pentwyn area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Pentwyn. In the meantime here are some basic statistics that we found
When it comes to leasehold conveyancing in Pentwyn what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Pentwyn. All leases are drafted differently and drafting errors can result in certain clauses are not included. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain elements of the property A provision for the recovery of money spent for the benefit of another party.
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Lloyds TSB Bank, Norwich and Peterborough Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the purchaser to withdraw.
I invested in buying a garden flat in Pentwyn, conveyancing having been completed half a dozen years ago. 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? Equivalent flats in Pentwyn with an extended lease are worth £176,000. The ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2106
With 80 years unexpired we estimate the premium for your lease extension to be between £8,600 and £9,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.