My financial adviser says he needs my Cathays law firm’s panel member for the HSBC conveyancing panel. Can you suggest how I discover this. I have called my local Cathays office but they have not got back to me yet.
The sensible thing to do is ask for this information from your Cathays lawyer . They should have a central record lender panel numbers.
As someone unfamiliar with conveyancing in Cathays what is the number one tip you can impart for the legal transfer of property in Cathays
Not many law firms or advisers will tell you this but conveyancing in Cathays or throughout Cardiff is often a confrontational process. Put another way, when it comes to conveyancing there exists lots of opportunity for confrontation between you and others involved in the home moving process. For instance, the seller, estate agent and even potentially your lender. Appointing a lawyer for your conveyancing in Cathays is a critical decision as your conveyancer is your adviser, and is the ONLY party in the process whose responsibility is to act in your best interests and to protect you.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone must be blamed for the process taking so long. We recommend that you your first instinct should be to trust your lawyer ahead of the other parties when it comes to the legal assignment of property.
I am buying a new build apartment in Cathays. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Cathays
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply a car parking plan.
I have been recommended by a number of property agents in Cathays to select a solicitor on your site. Is there a financial advantage for Estate Agents to market your site rather than a competitor’s?
We don’t offer any financial incentive for pointing buyers and sellers in our direction. We thought it would be too underhand to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Can you provide any top tips for leasehold conveyancing in Cathays from the point of view of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Cathays can be avoided if you appoint lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the purchasers’ representatives. The majority of freeholders or managing agents in Cathays levy fees for providing management packs for a leasehold home. You or your lawyers should enquire as to the fee that they propose to charge. The management pack can be applied for on or before finding a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Cathays. If you have carried out any alterations to the residence would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Most leases in Cathays state that internal structural alterations or installing wooden flooring calls for a licence from the Landlord acquiescing to such changes. If you fail to have the paperwork to hand do not communicate with the landlord without checking with your lawyer in the first instance. Some Cathays leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. You believe that you know the number of years remaining on your lease but you should double-check via your lawyers. A purchaser's conveyancer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Leasehold Conveyancing in Cathays - A selection of Questions you should consider before buying
Who are the managing agents? Plenty Cathays leasehold properties will have a service bill for the upkeep of the block invoiced on behalf of the management company. Should you buy the flat you will have to pay this charge, usually 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 to be met annual, this is usually not a significant sum, say about £50-£100 but you need to enquire as occasionally it can be prohibitively expensive.