I am buying a right to buy a flat in Pontypridd. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Pontypridd you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Pontypridd.
What can a local search tell me concerning the property my wife and I purchasing in Pontypridd?
Pontypridd conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company such as Onsearch The local search plays a central role in many a Pontypridd conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
My wife and I own a renovated Edwardian property in Pontypridd. Conveyancing practitioner represented me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pontypridd and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing lawyer who conducted the conveyancing.
I'm buying a new build house in Pontypridd with a mortgage from Nottingham Building Society. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not inform my lawyer about this side-deal as it may put at risk my loan with Nottingham Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Pontypridd prior to instructing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some banks will refuse to issue a loan on this type of house.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Pontypridd. Conveyancing may be slightly more expensive based on your lender's requirements.
I've found a house that appears to meet my requirements, at a great price which is making it more attractive. I have subsequently found out that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Pontypridd. Conveyancing solicitors have not yet been appointed. Will they explain the issues?
Most houses in Pontypridd 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. It is clear that you are buying in Pontypridd in which case you should be shopping around for a Pontypridd conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.
I purchased a split level flat in Pontypridd, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Pontypridd with a long lease are worth £191,000. The average or mid-range amount of ground rent is £55 per annum. The lease terminates on 21st October 2080
With only 54 years remaining on your lease we estimate the price of your lease extension to span between £32,300 and £37,400 as well as legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first seeking the advice of a professional.