Having been referred to your company we were going to appoint conveyancing solicitor in Penylan recommended by you but have come across alternative estimates on the internet look less pricey – how come?
There are plenty of conveyancing organisations promoting pretending to offer cut-price conveyancing, yet more often than not extrafees end up with the final bill totally different to the one you expected. Conveyancers are obliged to make sure that fees outlined in terms and conditions should be fair and reasonable raised The conveyancers that we put forward for conveyancing in Penylan genuinely set out all charges for a standard conveyancing case.
What does my ID and proof of funds have anything to do with my conveyancing in Penylan? Is this really necessary?
Penylan conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to check the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (usually a Passport or Driving Licence) and evidence of address (typically a Utility Bill less than 3 months old).
Proof of the origin of monies is also necessary under the money laundering laws as solicitors have a duty to check that the monies you are utilising to acquire a property (be it the exchange deposit or the full purchase price where you are a cash purchaser) has come from a reputable source (such as employment savings) as opposed to the fruits of illegitimate behaviour.
There is lots of here concerning conveyancing in Penylan but can you isolate your top tip for selecting the right conveyancer in Penylan
Do not opt for the cheapest Penylan conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
Completion of my purchase has taken place for my property in Penylan. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. In most cases complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Penylan building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Penylan conveyancing solicitor - who is on the bank conveyancing panel- called to say that they would not lend based on their published requirements. I simply don't know who is right.
Provided that the property lawyer is on the lender panel, they must adhere to the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Due to the advice of my in-laws I had a survey completed on a house in Penylan before retaining solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies may not give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penylan. Conveyancing may be slightly more expensive based on your lender's requirements.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Penylan. I have land on a web site which looks to be the ideal answer If there is a chance to get all this stuff completed via web that would be ideal. Should I be wary? What should out be looking out for?
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?
I am employed by a busy estate agency in Penylan where we have experienced a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given conflicting advice from local Penylan conveyancing solicitors. Could you clarify whether the owner of a flat can commence the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I purchased a 1st floor flat in Penylan, conveyancing formalities finalised August 2006. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding properties in Penylan with an extended lease are worth £202,000. The ground rent is £60 levied per year. The lease comes to an end on 21st October 2082
With 57 years remaining on your lease we estimate the price of your lease extension to range between £28,500 and £33,000 as well as plus your own and the landlord's "reasonable" professional fees.
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 due diligence. You should not use this information in tribunal or court proceedings. There may be other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first seeking the advice of a professional.