My fiance and I are looking to buy a home in Port Talbot and are in fact using a Port Talbot conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Godiva Mortgages Ltd have this evening contacted us to advise us that there is now an issue as our Port Talbot conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Port Talbot solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Our son is in the process of securing a new build apartment in Port Talbot with a mortgage from Yorkshire BS. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Yorkshire BS conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am intent on selling our property 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 lawyer would know that there is no such problem. It does beg the question why the purchasers are using an online conveyancing practice as opposed to a conveyancing solicitor in Port Talbot. We have lived in Port Talbot for 4 years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing firm currently acting for you. What do they say? You should check with 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 illness)
I have recentlybecome aware that Wolstenholmes have been shut down. They carried out my conveyancing in Port Talbot for a purchase of a freehold house 10 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Port Talbot conveyancing specialists.
As co-executor for the will of my aunt I am selling a residence in Cardiff but I am based in Port Talbot. My lawyer (approximately 250 kilometers awayhas requested that I sign a stat dec before the transaction finalising. Could you suggest a conveyancing practitioner in Port Talbot to attest and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will suffice regardless of whether they are Port Talbot based
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have just discovered that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a house with a leasehold title in Port Talbot. Conveyancing lawyers have are soon to be appointed. Will they explain the issues?
The majority of houses in Port Talbot are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Port Talbot in which case you should be looking for a Port Talbot conveyancing practitioner and be sure that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should advise you fully on all the issues.
I purchased a studio flat in Port Talbot, conveyancing was carried out 8 years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Port Talbot with a long lease are worth £170,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease comes to an end on 21st October 2104
You have 78 years left to run we estimate the price of your lease extension to be between £7,600 and £8,800 plus legals.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to 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.