Please could you suggest a Lloyds TSB Bank approved Caerphilly conveyancing lawyer that can complete within a very limited time frame? Am I best advised to go for a local Caerphilly practice or a nationwide firm?
We can recommend some very good Caerphilly conveyancing firms. You can also walk up the main road in Caerphilly. Go in to a couple of law practices and request to speak with a conveyancing solicitor for a quote. Mention your time frames together with your reasons and ask for a commitment on speed. Appoint the one that genuine.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would much rather instruct a local conveyancing solicitor in Caerphilly?
You should check but the chances are that give you one of their panel lawyers where you want the "fee-free" deal. Call the bank to determine if they allow a monetary alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Caerphilly.
Please help - my lawyer advises that defective lease insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Caerphilly?
The appropriate level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between Barclays and The Mortgage Works. Conveyancing solicitors as opposed to members of the public take out such policies.
My wife and I have arranged a further advance on our home loan from RBS as we want to conduct alterations to our home in Caerphilly. Do we need to choose a high street Caerphilly solicitor on the RBS conveyancing panel to handle the paperwork?
RBS would not normally appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I am buying a property in Caerphilly. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
As you are obtaining a mortgage with Virgin Money your lawyer must check the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to Virgin Money where a lease fails to meet these conditions. The conditions relate to the installation of panels on properties countrywide and is not isolated to Caerphilly.
Due to the encouragement of my in-laws I had a survey completed on a house in Caerphilly prior to retaining solicitors. I have been informed that there is a flying freehold element to the house. My surveyor advised that some mortgage companies will refuse to issue a loan on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Caerphilly. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Caerphilly to see if the conveyancing will be more expensive.
Having had my offer accepted I require leasehold conveyancing in Caerphilly. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and almost all are in Caerphilly - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I bought a 1st floor flat in Caerphilly, conveyancing was carried out 7 years ago. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Caerphilly with a long lease are worth £201,000. The ground rent is £45 levied per year. The lease expires on 21st October 2083
With 64 years left to run we estimate the premium for your lease extension to range between £14,300 and £16,400 as well as 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 in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before getting professional advice.