We see that you have a post code search directory listing solicitors on the UBS conveyancing panel. Do firms pay you a commission if I retain them for our own conveyancing in Cardiff Bay?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Cardiff Bay.
I am planning to acquire a house and require a conveyancing solicitor in Cardiff Bay who is on the Virgin Money solicitor. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Virgin Money in certain locations such as Cardiff Bay. We dont recommend any particular firm.
I'm the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the house in Cardiff Bay. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be considered the same way as though I had purchased the house in March. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many banks would take a sensible view as this provision chiefly exists to capture the purchase and immediately sell or the flipping of property.
Planning on purchasing a maisonette in Cardiff Bay. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Cardiff Bay conveyancer is on the RBS conveyancing panel.
After what seems like an age I have had an offer on a maisonette in Cardiff Bay accepted, but there is a chain. The owners have offered on a property, but it’s not yet agreed to, and have viewings of other properties in the pipeline. I have selected a local conveyancing solicitor in Cardiff Bay. What should be my next step? When do I get the mortgage application with Principality started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is approx £1k, then valuation, Cardiff Bay conveyancing search fees, etc). The first thing to do is ensure that your property lawyer is on the Principality conveyancing panel. Concerning the subsequent stages this very much depends on the specifics of your case, motivation for the property and on the state of the market. During a rising market many buyers would apply for a home loan with Principality and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to move forward with searches.
How does conveyancing in Cardiff Bay differ for newly converted properties?
Most buyers of new build residence in Cardiff Bay approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Cardiff Bay tend to acquire the land, 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 property lawyers 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 Cardiff Bay or who has acted in the same development.
I am hoping to put an offer on a small detached house that appears to meet my requirements, at a great figure which is making it all the more appealing. I have just been informed that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns buying a leasehold house in Cardiff Bay. Conveyancing advisers have not yet been instructed. Will they explain the issues?
The majority of houses in Cardiff Bay are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Cardiff Bay so you should seriously consider shopping around for a Cardiff Bay conveyancing solicitor and be sure that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. Being a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the landlord’sconsent to carry out alterations. You may also be required to pay a service charge towards the upkeep of the estate where the property is located on an estate. Your solicitor will appraise you on the various issues.
Leasehold Conveyancing in Cardiff Bay - Examples of Questions you should consider before Purchasing
The majority of Cardiff Bay leasehold flats will incur a service charge for the upkeep of the building invoiced on behalf of the landlord. Should you buy the apartment you will have to pay this liability, normally periodically throughout the year. This could vary from several hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay yearly, ordinarily this is not a exorbitant amount, say about £25-£75 but you should to check it because sometimes it could be prohibitively expensive. It is important to be aware if changing the roof or some other major work is due in the near future to be shared by the leaseholders and could well dramatically increase the the maintenance costs or require a specific payment. Be sure to enquire if there are any onerous prohibitions in the lease. For instance it is reasonably common in Cardiff Bay leases that pets are not permitted in in a block in Cardiff Bay. If you like the flatin Cardiff Bay but your dog is not allowed to make the move with you then you will be faced difficult determination.