The vendors of the house we are purchasing hired a conveyancing solicitor in Cardiff Bay who has recommended a preliminary agreement with a down payment 10k. Is it wise to enter into such agreements?
This form of contract isn't frequently used in Cardiff Bay, conveyancers are often found to direct clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no certainty that just because the vendor has signed a lock out contract they will sell to you. They may be inclined to break the agreement if they are offered a large enough offer to do so because a wronged party with the benefit of a exclusivity agreement will still have to establish consequential losses from the breach and this may not equalise the extra amount that the owner may gain by breaching the contract, no matter how morally unworthy the behaviour is.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Cardiff Bay. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Principality will require that you use a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
Can I be sure that the Cardiff Bay conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Cardiff Bay getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the lawyer handling your transaction.
We have agreed to purchase a house in Cardiff Bay. An unusual aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Clydesdale your lawyer must comply with the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Clydesdale. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Clydesdale where a lease fails to comply with these conditions. The requirements relate to the installation of panels on properties nationwide and is not limited to Cardiff Bay.
My offer on a house in Cardiff Bay has been accepted, but there is a chain. The owners have put an offer on on an apartment, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Cardiff Bay. What should be my next step? At what point should I apply for the mortgage with Santander?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Cardiff Bay conveyancing search costs, etc). The first thing to do is ensure that your property lawyer is on the Santander conveyancing panel. Concerning the next steps this very much dictated by the uniqueness of your case, desire for this property and on the state of the market. During a rising market the majority of home buyers will apply for a home loan with Santander and pay for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with the conveyancing in Cardiff Bay.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Cardiff Bay is the location of the property. Can you shed any light on this issue?
Flying freeholds in Cardiff Bay are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cardiff Bay you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cardiff Bay may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
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At this site secure an accurate costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances of your conveyancing in Cardiff Bay. As opposed to estate agents and many comparison sites we do not charge firms a fee if you select them for your conveyancing in Cardiff Bay