My lawyer has discovered a a legal deficiency with the lease for the apartment we are purchasing in Pontypridd. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer says that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender 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 property lawyer will have no choice but to discontinue acting for you.
Is there a reason why leasehold purchase conveyancing in Pontypridd costs more?
The conveyancing charges for a leasehold property in Pontypridd is frequently higher as compared to a freehold acquisition or disposal. This is because there is an amount of supplemental time necessary in dealing with the landlord and management company to collate the information about whether the rent and maintenance fee have been discharged and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the block.
My grandfather passed away last year and as sole heir and executor I was left the house in Pontypridd. The house had a relatively small loan left on it of around £8000. I want to have the title changed into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this possible?
Given you intend to re-mortgage then Principality will insist on your using a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
4 months have elapsed since my purchase conveyancing in Pontypridd took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I was pointed in your direction by numerous selling agents in Pontypridd to get a quote from a property lawyer on your site. What’s the financial incentive for Estate Agents to offer your services over alternative conveyancing organisations?
We refuse to give any commission for directing people to this site. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
In my capacity as executor for the estate of my aunt I am disposing of a residence in Monmouth but I am based in Pontypridd. My lawyer (approximately 300 kilometers awayrequires that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Pontypridd who can witness and place their company stamp on the document?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are Pontypridd based