Due to complete my purchase in Port Talbot next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 instructions. These obligations are not unique to conveyancing in Port Talbot.
We are planning on selling our house in Port Talbot and according to the buyers it appears that there is a risk of it being built on contaminated land. Any high street Port Talbot conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing outfit as opposed to a conveyancing solicitor in Port Talbot. Having lived in Port Talbot for many years we know that this is a non issue. Should we get in touch with our local Authority to get clarification that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am purchasing my first flat in Port Talbot with the aid of help to buy. The builders would not move on the price so I negotiated 6k of extras instead. The house builders rep advised me not to tell my lawyer about this deal as it could put at risk my mortgage with Platform Home Loans Ltd. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a ground for flat up to £195,000 and identified one round the corner in Port Talbot I like with open areas and railway links in the vicinity, however it only has 52 years on the lease. There is not much else in Port Talbot suitable, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage the shortness of the lease may be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
I am a sole trader wishing to lease a unit on the high street. Can you recommend solicitors offering no-move-no charges for non-domestic conveyancing in Port Talbot for below £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Port Talbot, including the sale and purchase of businesses as well as simply premises. If you are intending to acquire or lease a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right solicitor. Regarding the fees this will depend on the structure and terms of the proposed transaction. Let us have your contact information or telephone us so that we can provide you with a fixed commercial conveyancing calculation.
My cousin is buying a basement flat in Port Talbot. He has received an estimate by the conveyancing practitioner connected to the selling agents totaling £1385 . It was 9 years ago since I sold and bought a house and it cost was £450. Have fees really gone up that much?
What does the conveyancing estimate include? Is it just for the legal fees, or what you will be paying in total (for instance Port Talbot searches, land registry fees, etc)