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Recently asked questions about conveyancing in Cathays

My partner and I are buying a newly built flat in Cathays and my solicitor is informing me that she is duty bound to the bank to disclose incentives from the developer. I am under pressure to exchange and I would rather not delay deal. Is my lawyer right?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.

Have completed on a a semi-detached house in Cathays , What is the estimated time for the Land Registry to register the transfer to my name? My Cathays conveyancing solicitor works at snail pace, so I want to be sure that my ownership is registered.

There is nothing unique about conveyancing in Cathays registration formalities. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry communicate with any third parties. Currently roughly three quarters of such applications are completed in less than three weeks but some can be subject to protracted delays. Historically registration takes place after the new owner has moved in to the premises so an expedited registration is not typically primary concern yet if it is urgent that the the registration takes place urgently then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.

How does conveyancing in Cathays differ for new build properties?

Most buyers of new build premises in Cathays approach us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Cathays 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 Cathays or who has acted in the same development.

Last August I purchased a leasehold house in Cathays. Am I liable to pay service charges relating to a period prior to my ownership?

Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I invested in buying a split level flat in Cathays, conveyancing was carried out May 2007. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Cathays with a long lease are worth £197,000. The ground rent is £55 yearly. The lease ends on 21st October 2074

With only 55 years unexpired we estimate the price of your lease extension to be between £31,400 and £36,200 as well as legals.

The suggested premium range above a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.

Should one as executor remove a departed person's name from the title deeds for a house in Cathays?

Where a Cathays property is co-owned and one of the owners passes away, their name will not automatically be removed from the title deeds. You are not required to remove their name as when it comes to a disposal your lawyer would simply need to supply proof as to the reason the other owner is not included in the transfer, ordinarily this is in the form of the probate documents.

With the aim of making the sale conveyancing smoother for the sale of the property you can apply to have the deceased party erased from the title by applying to HM Land Registry with proof of the death. There is no land registry fee payable.

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