I am only a couple days away from an exchange on a property in Saundersfoot and my parents have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my lawyer needs to make a notification to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is duty bound to clarify with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Is it the case that all Saundersfoot solicitors on the TSB conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the TSB conveyancing panel they would need to be governed by the SRA. Many banks do allow licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
My partner and I have arranged the release of further funds on our mortgage from HSBC as we want to carry out a loft conversion to our home in Saundersfoot. Are we obliged to appoint a local Saundersfoot solicitor on the HSBC conveyancing panel to handle the paperwork?
HSBC don't usually appoint a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC list.
We have agreed to purchase a house in Saundersfoot. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Coventry BS be concerned?
Given that your lender is Coventry BS your lawyer must follow the conveyancing instructions contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook includes minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Coventry BS where a lease does not comply with these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not limited to Saundersfoot.
I am looking for a leasehold apartment up to £305k and found one round the corner in Saundersfoot I like with amenity areas and station in the vicinity, however it only has 49 years unexpired on the lease. There is not much else in Saundersfoot in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years may be an issue. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
As co-executor for the estate of my grandfather I am selling a property in Neath but I am based in Saundersfoot. My solicitor (who is 250 kilometers awayhas requested that I execute a stat dec prior to completion. Can you recommend a conveyancing practitioner in Saundersfoot who can witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are located in Saundersfoot
I've recently bought a leasehold property in Saundersfoot. Do I have any liability for service charges relating to a period prior to completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Saundersfoot - Sample of Questions you should ask Prior to buying
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Its a good idea to discover as much as possible concerning the managing agents as they will either make life much simpler or uncomfortable. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to daily matters like the cleanliness of the common parts. You should not be afraid to ask prospective neighbours what they think of them. In conclusion, find out the dates that you are obliged pay the service charge to the appropriate party and specifically what you get for your money. The best form of lease arrangement is if the freehold interest is in the ownership of the leaseholders. In this scenario the leaseholders enjoy being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent employed by the leaseholders. For many Saundersfoot leaseholds the cost for major works are not included within service charges, although some managing agents in Saundersfoot ask leaseholders to contribute towards a reserve fund created for the specific intention of establishing a fund for major repairs or maintenance.
Can a conveyancer remove a name from the title of my property in Saundersfoot ?
Subtracting or adding someone to the title of your house is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a lawyer