We were just about to sign contracts for a freehold house in Caerphilly. We encountered a stumbling block. Our mortgage offer with Santander runs out on 23/11/2020 but the vendors are suggesting a completion date of 25/11/2020. Can one extend the mortgage expiry date?
The person best placed to address this concern is your solicitors who is in a position to determine if he or she is should be discussing with the bank, seller’s representatives, selling agents or indeed all parties taking into account what has happend in your house move to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Caerphilly? What am I being asked for?
To satisfy the Money Laundering Regulations any Caerphilly conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility bill evidencing where you reside.
Under Money Laundering Regulations, conveyancing solicitors are obliged by law to investigate not only the ID of conveyancing clients but also the origin of fund that they receive in respect of any matter. Refusal to disclose this may lead to your conveyancer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to make a disclosure to the relevant authorities should they consider that any amounts received by them may contravene the Money Laundering Regulations.
I need some quick conveyancing in Caerphilly as I have a deadline to complete within 3 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are are a mortgage free purchaser you have the choice not to do searches although no solicitor would suggest that you don't. With lots of history conveyancing in Caerphilly the following are examples of issues that can show up and therefore affect future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
Have purchased a a detached house in Caerphilly , What is the estimated time for the Land Registry to register my ownership? My Caerphilly conveyancing solicitor has been painfully slow, so I want to check that my purchase is registered.
As far as conveyancing in Caerphilly registration is no quicker or slower than anywhere else in the country. As opposed to being determined by geographic area, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry have to notify any third parties. Currently approximately 80% of such applications are completed in less than three weeks but occasionally there can be extensive delays. Historically registration occurs once the purchaser is living at the property so registration formalities is not always top priority yet if there is a degree of urgency associated with the registration then you or your solicitor could contact the land registry and explain the circumstances.
I've found a house that seems to meet my requirements, at a great figure which is making it all the more appealing. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Caerphilly. Conveyancing solicitors have are soon to be instructed. Will they explain the issues?
The majority of houses in Caerphilly are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Caerphilly in which case you should be shopping around for a Caerphilly conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the freeholder’sconsent to carry out changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your conveyancer will report to you on the legal implications.
Caerphilly Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
Who are the managing agents? Plenty Caerphilly leasehold flats will be liable to pay a service charge for maintenance of the block invoiced by the landlord. If you purchase the property you will have to meet this charge, usually periodically during the year. This can vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. In all probability there will be a rentcharge for you to pay annual, ordinarily this is not a large sum, say around £25-£75 but you need to enquire it because occasionally it can be many hundreds of pounds. Is there a share of the freehold?