I am acquiring a property without a mortgage in Cardiff. I have been residing for the last Seventeen years in Cardiff. Conveyancing searches are a lot of money. Given that I have knowledge of the area and road very well must I have all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Cardiff conveyancing searches are at your discretion. Your lawyer will 'advise', no-doubt strongly, that you should have searches carried out, but she has a professional duty to take that path of advice. Do take into account; if you are intend to sell the house one day, it will likely be be of relevance to your future purchaser what the searches contain. There are plenty of instances where premises with apparent issues can still reveal negative search results. A good conveyancing solicitor in Cardiff will provide you some practical advice in this regard.
I am selling my apartment in Cardiff. Will my property lawyer have to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
What is your number one tip for finding a conveyancing solicitor in Cardiff
It would be unwise to be swayed by the lowest Cardiff conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I'm the only recipient of my late father’s estate with all property in now in my sole name, including the my former home in Cardiff. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership will be considered the same way as if I'd bought the house in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How sensible a view banks take of it, depend on the lender as this obligation primarily exists to capture the purchase and immediately sell or the flipping of properties.
Principality have agreed my mortgage in principle, my offer on a house in Cardiff has been agreed to, what happens next?
Your estate agent will wish to know who your solicitors are (make sure the conveyancers are on the bank’s panel). Contact Principality or the financial adviser and finalise any appropriate paperwork. Principality will instruct a valuer who will get in contact with the selling agent or owners to arrange a time for the valuation to happen. Once conducted (assuming no problems) it takes about a fortnight to get a mortgage offer. Principality will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cardiff.
My husband and I may need to sub-let our Cardiff garden flat for a while due to a new job. We used a Cardiff conveyancing practice in 2004 but they have closed and we did not have the foresight to seek any advice as to whether the lease allows us to sublet. How do we find out?
Your lease governs relations between the landlord and you the flat owner; in particular, it will set out if subletting is not allowed, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Cardiff do not contain subletting altogether – such a clause would undoubtedly devalue the flat. In most cases there is simply a requirement that the owner notifies the freeholder, possibly supplying a duplicate of the tenancy agreement.
I own a 2 bed flat in Cardiff, conveyancing having been completed 9 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Cardiff with an extended lease are worth £211,000. The ground rent is £50 per annum. The lease ends on 21st October 2086
You have 68 years remaining on your lease we estimate the premium for your lease extension to be between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
What type of property do your Cardiff conveyancing quotes relate to?
The quotes provided are only appropriate to standard residential homes in England & Wales. Should you have any different needs for example industrial or agricultural land or commercial conveyancing in Cardiff please telephone us to consider this further .