Much to our surprise we have been told by our mortgage adviser that my Tonteg lawyer is not on the lender Solicitor panel. What can I do to check?
The first thing you need to do is to contact your Tonteg lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
It has been 2 months following my purchase conveyancing in Tonteg completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying a new build house in Tonteg benefiting from help to buy. The sellers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not disclose to my conveyancer about the side-deal as it may adversely affect my loan with the lender. Is this normal?.
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.
I decided to have a survey completed on a property in Tonteg prior to retaining conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor has said that some banks will not grant a loan on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Halifax. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Tonteg. Conveyancing will be smoother if you use a solicitor in Tonteg especially if they are acquainted with such properties in Tonteg.
I am looking at a couple of apartments in Tonteg both have about fifty years left on the lease term. Do I need to be concerned?
A lease is a right to use the property for a period of time. As the lease gets shorter the saleability of the lease decreases and it becomes more costly to extend the lease. This is why it is generally wise to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We recommend you seek professional help from a conveyancer and surveyor with experience in this arena.
I invested in buying a split level flat in Tonteg, conveyancing having been completed in 2009. Can you please calculate a probable premium for a statutory lease extension? Comparable properties in Tonteg with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £45 per annum. The lease expires on 21st October 2086
With just 62 years remaining on your lease we estimate the premium for your lease extension to span between £17,100 and £19,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending 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 you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My fiance and I are searching for an affordable conveyancing solicitor in Tonteg to help me sell my apartment. I I am concerned about being overcharged and there's lots of Tonteg conveyancing practices out there...how do I know which one is best to select?
To get quotes for your move via conveyancing firms that provide services in Tonteg please make the most of our quote tool.