IfI were to purchase a freehold housein Tonteg for cash and dispense with a survey and no local authority searches how much would I expect to to save on my conveyancing in Tonteg?
The only reduction in fees you would make on is the Tonteg conveyancing searches. Your conveyancing practitioner is obliged to do the vast majority of work - money laundering, correspond with your vendors property lawyer, stamp duty submission, register the property etc. You might save a bit for them not needing to register a mortgage but it will not be significant.
The Tonteg conveyancing lawyers that I appointed last week on my purchase in Tonteg have suddenly closed. They were on acting for me because I needed a firm on the Nottingham conveyancing panel and my preferred Tonteg lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Can you help - my lawyer says that absentee landlord insurance is necessary on my purchase. What is the level of cover for Tonteg conveyancing?
The appropriate level of absentee landlord indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Coventry Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
Last month we had a mortgage agreed in principle with Skipton. Tonteg conveyancing lawyers were instructed. What is the average time that one could expect to receive a mortgage offer from Skipton?
Some lenders take longer than others. Have Skipton done the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have decided to exercise my right to buy my property in Tonteg off the council. I have a mortgage agreed with Clydesdale. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Clydesdale, you will need to appoint a solicitor on the Clydesdale conveyancing panel.
My colleague recommended that if I am buying in Tonteg I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Tonteg conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Tonteg around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Tonteg.
I am buying my first flat in Tonteg benefiting from help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not disclose to my solicitor about the extras as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
My wife and I purchased a leasehold house in Tonteg. Conveyancing and Halifax mortgage are in place. A letter has just been received from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1997. The conveyancing practitioner in Tonteg who acted for me is not around. What should I do?
The first thing you should do is contact the Land Registry to be sure that this person is indeed the new freeholder. You do not need to incur the fees of a Tonteg conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I inherited a 2 bed flat in Tonteg, conveyancing formalities finalised 8 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding properties in Tonteg with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ends on 21st October 2092
With only 66 years unexpired we estimate the price of your lease extension to be between £11,400 and £13,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Please do not take any other action based on this information without first getting professional advice.