IfI were to acquire a simple residential propertyin Treforest for cash and have no survey and no conveyancing searches how much could I expect to to save on my conveyancing in Treforest?
Any savings you would achieve would be limited to the costs for searches. The solicitor is obliged to do the vast majority of work - money laundering, communicating with the vendors lawyer, stamp duty submission, register the property etc. A marginal saving might be made by not needing to register a charge but it won't be significant.
Can you explain why leasehold purchase conveyancing in Treforest is more expensive?
Treforest leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We expect to receive a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Treforest solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Treforest solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I am selling my flat. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being a right pain. The Treforest solicitor who is on the TSB conveyancing panel is recommending indemnity insurance as a solution but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told two weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Treforest is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Stirling Law several years ago for my conveyancing in Treforest. I now require my file but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Treforest of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
My uncle has suggested that I appoint his conveyancers in Treforest. Should I use them?
There are no two ways about it the best way to find a conveyancing practitioner is to have referrals from friends or relatives who have previously instructed the conveyancer you're contemplating using.
I am employed by a busy estate agency in Treforest where we have experienced a number of flat sales derailed due to short leases. I have been given conflicting advice from local Treforest conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension process for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Treforest - A selection of Queries before buying
-
You will want to find out as much as possible concerning the company managing the building as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues such as the cleanliness of the common parts. You should not be shy to ask prospective neighbours whether they are happy with their management. In conclusion, be sure you know the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending the funds. The prefered form of lease arrangement is if the freehold title is owned by the leaseholders. In this situation the leaseholders have being in charge if their destiny and even though a managing agent is frequently retained if the building is bigger than a house conversion, the managing agent is directed by the tenants. How much is the ground rent and service charge?