My husband and I are buying a 1 bedroom flat in Pontardawe with a mortgage. We like our Pontardawe lawyer, however the lender advise he's not on their "panel". We have to appoint one of the bank panel solicitors or retain our Pontardawe property lawyer as well as pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Pontardawe conveyancing lawyer to apply to be on the conveyancing panel.
A friend advised me that where I am purchasing in Pontardawe I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Pontardawe conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Pontardawe around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Pontardawe Education with maps and statistics, Local Amenities and other useful information regarding Pontardawe.
I am buying a new build apartment in Pontardawe. 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 conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Pontardawe
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The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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 evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Pontardawe is the location of the property. Can you offer any assistance?
Flying freeholds in Pontardawe are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pontardawe you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontardawe may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Is it best to instruct a Pontardawe conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can deal with the conveyancing however they are based 300miles drive away.
The primary upside of using a high street Pontardawe conveyancing practice is that you can pop in to execute documents, deliver your ID and pester them where appropriate. They will also have local insight which is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and the majority were content that should trump using an unknown Pontardawe conveyancing solicitor solely due to them being Pontardawe based.
Back In 2006, I bought a leasehold house in Pontardawe. Conveyancing and HSBC Bank mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Pontardawe who previously acted has now retired. Any advice?
First make enquiries of the Land Registry to make sure that this person is indeed the new freeholder. There is no need to instruct a Pontardawe conveyancing firm to do this as you can do this on the Land Registry website for less than a fiver. You should note that in any event, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I invested in buying a 2 bed flat in Pontardawe, conveyancing formalities finalised half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Pontardawe with over 90 years remaining are worth £206,000. The ground rent is £45 per annum. The lease ceases on 21st October 2092
With 66 years left to run we estimate the price of your lease extension to range between £12,400 and £14,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before getting professional advice.