We decided to go with a local lawyer for my conveyancing in Caerphilly yesterday. Reviewing the Terms I seeI am responsible for charges even if our purchase doesn't happen. Should I ditch them and instruct a web based lawyer who offer no-sale-no-fee conveyancing in Caerphilly?
It is usually a trade off in that if "No Sale No Fee" is advertised then the fee levels will tend to be be higher to neutralise those transactions that fail to complete. You should be mindful that these schemes rarely cover disbursements for instance Caerphilly conveyancing search fees.
My husband and I changing mortgage lender for our maisonette in Caerphilly with Co-operative. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have a couple of questions (1) Is this document specific to the Co-operative conveyancing panel as he never had to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Co-operative conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Co-operative. This is solely used to protect Co-operative if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Co-operative had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I decided to have a survey done on a property in Caerphilly in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some banks will not grant a mortgage on such a premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you contact us we can check with the appropriate 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 will be smoother if you use a solicitor in Caerphilly especially if they are acquainted with such properties in Caerphilly.
Hoping to buy a property located in Caerphilly and I am already nervous. I couldn't find anything specific about Caerphilly. Conveyancing will be needed in due course but do you know about the Caerphilly area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Caerphilly. In the meantime here are some basic statistics that we found
I am employed by a reputable estate agency in Caerphilly where we have experienced a few flat sales jeopardised due to short leases. I have been given conflicting advice from local Caerphilly conveyancing firms. Please can you clarify whether the owner of a flat can commence 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 commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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 purchaser.
Caerphilly Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
For many Caerphilly leaseholds the cost for major works are not included within maintenance charges, albeit that there some managing agents in Caerphilly require leasehold owners to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. The majority of Caerphilly leasehold apartments will incur a service bill for the upkeep of the building set by the freeholder. Where you buy the apartment you will have to pay this amount, normally periodically accross the year. This may differ from two or three hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a rentcharge to be met annual, this is usually not a significant amount, say around £50-£100 but you should to enquire as occasionally it can be many hundreds of pounds.