How do I search for the right lawyer who can supply a first class service for my conveyancing in Pentwyn?
Option 1 is to ask relatives who they would recommend.
Second, look on the internet for conveyancing in Pentwyn. Ring two or three from the list and request that they send you their conveyancing costs illustrations and discuss your needs with the solicitor who will handle the conveyancing beforemaking your choice.
Option 3 is to use this site to help you find the right solicitors for you based on your individual factors including location,speed, complexity and who your intended lender is. Avoid the trap of appointing £99 conveyancing in Pentwyn
I am the registered owner of a freehold residence in Pentwyn but still charged rent, why is this and what is this?
It’s unusual for properties in Pentwyn and has limited impact for conveyancing in Pentwyn 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 date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am currently in the process of buying my council flat in Pentwyn. I have a mortgage agreed with Nottingham. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Pentwyn bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Pentwyn conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancing practitioner is on the mortgage company approved list, they must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 remaining.
Our offer on a property in Pentwyn has been accepted, the owners do however have a tied purchase. The owners have offered on a property, however it’s not yet tied up, and are looking at other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Pentwyn. What should be my next step? When should I get the mortgage application with Lloyds going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur costs too early (home loan application is approx one thousand pounds, then valuation, Pentwyn conveyancing search fees, etc). The first course of action is to ensure that your lawyer is on the Lloyds approved list. As to the subsequent phase this very much depends on the specifics of your case, motivation for the property and on the state of the market. In a buoyant market many purchasers will apply for a home loan with Lloyds and arrange for the valuation and only if it comes back ok would they ask their lawyer to proceed with the conveyancing in Pentwyn.
Will my conveyancer be raising questions regarding flooding as part of the conveyancing in Pentwyn.
Flooding is a growing risk for lawyers dealing with homes in Pentwyn. There are those who purchase a house in Pentwyn, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous checks that may be initiated by the buyer or by their solicitors which should figure out the risks in Pentwyn. The standard completed inquiry forms supplied to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to find out if the property has suffered from flooding. If the premises has been flooded in past and is not disclosed by the vendor, then a buyer may issue a compensation claim resulting from an inaccurate answer. The buyer’s conveyancers will also order an environmental search. This will disclose if there is a recorded flood risk. If so, additional inquiries should be made.
How does conveyancing in Pentwyn differ for new build properties?
Most buyers of new build premises in Pentwyn approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Pentwyn usually acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pentwyn or who has acted in the same development.
I own a leasehold flat in Pentwyn. Conveyancing was finalised in 2010. I have heard that I mustn’t allow the the remaining lease term to fall too low. Is this correct?
Pentwyn leasehold properties are for a fixed term - often ninety nine years when they started. However many flats in Pentwyn were built or converted 20 or more years ago and so these leases now have under 80 years left to run. That may seem like plenty of time however Banks, Building Societies and other mortgage institutions generally require leases to have at least 75 years left to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are nearing 75 years. To optimize your property value you should be considering whether to extend your lease well in advance of selling the property. There are also significant benefits to doing so before the lease reaches even 80 years as when the lease falls below 80 years the premium you have to pay to extend starts to get a lot more expensive.