We are buying our first house. Our conveyancing practitioner has e-mailedto ask if we would like to purchase extra conveyancing searches. We are really unsure what's necessary for conveyancing in Pontardawe
The scope of Pontardawe conveyancing searches depends primarily on the property, the location, the possibility of any of these risks, your familiarity of the region and risks, your overall appetite to risk. What matters is that you properly understand what information each search could provide. You may then make a decision if you consider that you need that search. If unclear, ask the property lawyer to advise.
Should my solicitor be making enquiries regarding flooding as part of the conveyancing in Pontardawe.
Flooding is a growing risk for solicitors dealing with homes in Pontardawe. Plenty of people will acquire a property in Pontardawe, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a numerous searches that may be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Pontardawe. The standard information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover whether the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the owner, then a buyer may commence a legal claim for losses stemming from an incorrect response. A buyer’s lawyers should also order an environmental report. This will higlight if there is any known flood risk. If so, more detailed inquiries should be conducted.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Pontardawe I like with open areas and station nearby, however it's only got 52 years unexpired on the lease. There is not much else in Pontardawe in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan that many years will likely be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may 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 with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
In my capacity as executor for the will of my father I am disposing of a house in Swansea but reside in Pontardawe. My solicitor (who is 300 kilometers awayhas requested that I sign a stat dec before completion. Could you suggest a conveyancing solicitor in Pontardawe to attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are Pontardawe based
My wife and I purchased a leasehold flat in Pontardawe. Conveyancing and TSB mortgage went though with no issue. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Pontardawe who acted for me is not around. Any advice?
The first thing you should do is make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Pontardawe conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I inherited a basement flat in Pontardawe, conveyancing formalities finalised half a dozen years ago. How much will my lease extension cost? Equivalent properties in Pontardawe with an extended lease are worth £211,000. The ground rent is £45 yearly. The lease finishes on 21st October 2092
With only 67 years unexpired the likely cost is going to be between £10,500 and £12,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
How and when do I incur the Stamp Duty Land Tax due for my conveyancing in Pontardawe?
Your property lawyer should fill out a Land Transaction Return Form for you as part of your Pontardawe conveyancing transaction for you to sign. After completion your conveyancing practitioner will submit your Land Transaction Return Form to the Inland Revenue and - assuming they have the funds - settle any land tax due on your behalf.