My financial adviser says he needs my Cardiff Bay lawyer’ panel reference for the Nat West conveyancing panel. What is the best way to find this out. I have tried my local Cardiff Bay branch but they have not got back to me yet.
The sensible thing to do is ask for this information from your Cardiff Bay solicitor . They should have a central record lender panel numbers.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Cardiff Bay. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 6/2/2019, the requirements read as follows :
I have been told that property searches are a common reason for stalling in Cardiff Bay conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Cardiff Bay.
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 housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Cardiff Bay typically purchase the site, 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 conveyancers 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.
Back In 2009, I bought a leasehold house in Cardiff Bay. Conveyancing and Norwich and Peterborough Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a ground rent demand for rent dating back to 1992. The conveyancing practitioner in Cardiff Bay who previously acted has long since retired. What should I do?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the new freeholder. It is not necessary to instruct a Cardiff Bay conveyancing lawyer to do this as it can be done on-line for £3. You should note that regardless, even if this is the rightful landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
I acquired a garden flat in Cardiff Bay, conveyancing was carried out in 1996. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Cardiff Bay with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 charged once a year. The lease expires on 21st October 2078
With only 59 years remaining on your lease the likely cost is going to be between £20,900 and £24,200 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information without first getting professional advice.