Recently been in touch with my conveyancing lawyer in Cathays who conducted the legals two years ago requesting a conveyancing costs illustration based on an identical type of home move (a leasehold residence and a freehold premises) of almost identical values with a loan from Santander. It looks as though am now being quoted double. Stick with what I know or should I seek out a cheaper online property lawyer?
The estimate does seem a little steep. Where you are content to spend time comparing quotes you may be able to get the conveyancing a bit cheaper by say a hundred pounds. On the other hand, if you were satisfied with the legal work the firm provided you mightlive to regret choosing an a cheaper solicitor. If is important to be sure the conveyancer can also act for Santander. You can use our search tool to locate a Cathays conveyancing firm on the Santander member panel, which can often include conveyancing solicitors in Cathays.
Me and my partner are buying our first property. Our lawyer has texted usto check if we would like to order additional conveyancing searches. Unfortunately we have no idea as to what's necessary for conveyancing in Cathays
The range of Cathays conveyancing searches should be triggered based primarily on the premises, the location, the possibility of any of these risks, your familiarity of the region and risks, your general attitude to risk. What is important is that you adequately understand what information the searches could supply. You may then make a decision if you consider that you need that information. Should you be unsure, ask your property lawyer to offer guidance.
I am the registered owner of a freehold premises in Cathays but still charged rent, why is this and what is this?
It is rare for properties in Cathays and has limited impact for conveyancing in Cathays but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
How does conveyancing in Cathays differ for new build properties?
Most buyers of new build premises in Cathays come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Cathays typically acquire 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 used to new build conveyancing in Cathays or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Cathays ahead of retaining conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks may not give a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Cathays. Conveyancing may be slightly more expensive based on your lender's requirements.