I require conveyancing for an apartment in a fairly new development (6 years built) in Rhymney. Almost all the properties have already been sold. Do I need carry out the conveyancing searches as part of conveyancing in Rhymney?
If you are purchasing a property with the assistance of a loan, your mortgage company will need some (many) of the searches so you'll have no choice. If not, then Rhymney conveyancing searches are optional. Your solicitor, will ’encourage’, perhaps in the strongest possible terms, that you should have the searches done, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or ask you to appoint a different lawyer for your conveyancing in Rhymney.
Can you explain why leasehold purchase conveyancing in Rhymney is more expensive?
Rhymney leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I am selling my apartment in Rhymney. Will my lawyer have to be on the Leeds Building Society conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
My wife and I buying a 4 bedroom semi-detached house in Rhymney. The intention is to an extension at the rear at the house.Will the conveyancing process involve checks to see if these alterations are permitted?
Your solicitor should check the deeds as conveyancing in Rhymney can sometimes reveal restrictions in the title deeds which prevent certain changes or require the permission of another owner. Certain extensions require local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor prior to committing yourself to a purchase.
I am the sole recipient of my late mum's estate and I have everything in my name alone, including the house in Rhymney. The Rhymney property was put into my name in October. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the property in October. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be impacted by that. many mortgage companies would take a sensible view as this provision primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
I have paid off my mortgage with Nationwide. I assume I don't need a Rhymney conveyancing practitioner on the Nationwide panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
As co-executor for the will of my uncle I am selling a property in Neath but live in Rhymney. My conveyancer (based 260 kilometers from meneeds me to sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing practitioner in Rhymney to attest and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally or notary public or qualified solicitor will be fine regardless of whether they are located in Rhymney
When it comes to leasehold conveyancing in Rhymney what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Rhymney. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are missing. For example, if your lease is missing any of the following, it could be defective:
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Maintenance charge proportions which don’t add up to the correct percentage Repairing obligations to or maintain parts of the building
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Leeds Building Society, and Bank of Ireland all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.
I am the registered owner of a basement flat in Rhymney, conveyancing was carried out March 2008. Can you shed any light on how much the price could be for a 90 year extension to my lease? Equivalent flats in Rhymney with an extended lease are worth £165,000. The ground rent is £50 yearly. The lease ends on 21st October 2103
You have 78 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 as well as legals.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.