My wife and I are purchasing a house in Abercarn. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the single recipient of my late father’s estate with all property in now in my sole name, including the house in Abercarn. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I do know about the CML six month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the house in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates 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. How sensible a view banks take of it, depend on the mortgage company as this provision is principally there to identify subsales or the flipping of property.
After weeks of negotiation I have agreed a price on a house in Abercarn. My mortgage broker suggested a solicitor. I paid an on account payment of £225. Not long after, the property lawyer contacted me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been told that property searches are the primary cause of hinderance in Abercarn conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of holding up conveyancing in Abercarn.
How does conveyancing in Abercarn differ for new build properties?
Most buyers of new build property in Abercarn approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is finished. This is because developers in Abercarn typically buy the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Abercarn or who has acted in the same development.
I need to retain a conveyancing solicitor for residential conveyancing in Abercarn. I happened to discover a site which appears to be the perfect answer If it is possible to get all this stuff done via email that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My fiance and I may need to sub-let our Abercarn garden flat temporarily due to a career opportunity. We used a Abercarn conveyancing practice in 2002 but they have closed and we did not have the foresight to get any advice as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease dictates the relationship between the landlord and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain caveats. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. The majority of leases in Abercarn do not contain strict prohibition on subletting – such a clause would undoubtedly devalue the flat. Instead, there is usually simply a requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I bought a split level flat in Abercarn, conveyancing was carried out 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Abercarn with a long lease are worth £186,000. The ground rent is £55 per annum. The lease expires on 21st October 2073
With 53 years unexpired we estimate the premium for your lease extension to be between £27,600 and £31,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information before seeking the advice of a professional.