My conveyancer has identified a defect with the lease for the property we are buying in Pontarddulais. The seller’s lawyers have put forward title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the mortgage company is willing to move forward with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Can your site be used to find a Conveyancing solicitor in Pontarddulais even if I’m not buying or disposing of a house, for example if I wish to buy a shop in Pontarddulais with a mortgage from Barnsley Building Society?
Our search tool is predominantly used to get a quote from residential conveyancing solicitors in Pontarddulais but we have listed at the bottom of this page a few Pontarddulais commercial conveyancing firms. You should make contact with the company directly to see if they are also authorised to represent Barnsley Building Society
I am looking for a leasehold apartment up to £245,000 and found one round the corner in Pontarddulais I like with open areas and railway links nearby, the downside is that it's only got 61 years on the lease. I can't really find anything else in Pontarddulais for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage that many years will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
My father-in-law has urged me to use his lawyers for conveyancing in Pontarddulais. Should I use them?
Much as we are happy to recommend a Pontarddulais conveyancing lawyer it’s preferable to find a conveyancing practitioner is to have recommendations from friends or relatives who have used the firm that you are are thinking of instructing.
I've found a house that seems to be perfect, at a great figure which is making it all the more appealing. I have just found out that it's a leasehold rather than freehold. I am assuming that there are particular concerns purchasing a leasehold house in Pontarddulais. Conveyancing solicitors have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Pontarddulais ?
Most houses in Pontarddulais are freehold rather than leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can assist with the conveyancing process. We note that you are purchasing in Pontarddulais in which case you should be shopping around for a Pontarddulais conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out changes to the property. You may also be required to pay a service charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will appraise you on the various issues.
I inherited a leasehold flat in Pontarddulais, conveyancing was carried out in 1996. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Pontarddulais with over 90 years remaining are worth £180,000. The ground rent is £65 levied per year. The lease expires on 21st October 2084
With only 59 years unexpired the likely cost is going to be between £20,900 and £24,200 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Please can you refer me to a conveyancing practitioner for purchasing a bungalow? Ideally someone in Pontarddulais, who will contact me via email - not someone who insists on slow mail or fax.
The purpose of this site is restricted to being a directory service for lawyers who want to be listed as being on the approved conveyancing panel for Virgin Money in certain areas such as Pontarddulais . We dont recommend any particular solicitor.