It is is a decade since I bought my property in Cyncoed. Conveyancing solicitors have recently been retained on the sale but I can't track down my title deeds. Will this cause complications?
You need not be too concerned. First there is a possibility that the deeds will be with your mortgage company or they may be in the possession of the solicitor who oversaw your purchase. Secondly the likelihood is that the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Most conveyancing in Cyncoed involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
We are getting a further advance on our home loan from Aldermore as we want to carry out alterations to our home in Cyncoed. Do we need to choose a bricks and mortar Cyncoed solicitor on the Aldermore conveyancing panel to handle the paperwork?
Aldermore don't usually appoint a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore conveyancing panel.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Cyncoed lawyer on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Cyncoed is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Cyncoed differ for new build properties?
Most buyers of new build premises in Cyncoed contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Cyncoed usually acquire the real estate, 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 used to new build conveyancing in Cyncoed or who has acted in the same development.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Cyncoed. Conveyancing solicitors have are about to be instructed. Will they explain the issues?
The majority of houses in Cyncoed are freehold and not leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are purchasing in Cyncoed so you should seriously consider looking for a Cyncoed conveyancing solicitor and be sure that they are used to advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. Being a leaseholder you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I own a garden flat in Cyncoed, conveyancing having been completed in 2006. How much will my lease extension cost? Equivalent properties in Cyncoed with over 90 years remaining are worth £185,000. The average or mid-range amount of ground rent is £65 invoiced annually. The lease expires on 21st October 2085
With just 60 years left to run we estimate the price of your lease extension to be between £20,000 and £23,000 as well as legals.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use this information in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information before seeking the advice of a professional.
What can I expect to pay for conveyancing in Cyncoed?
The amount you are levied for conveyancing in Cyncoed will differ considerably from solicitor to solicitor. Given these differences it is particularly important that you have a complete summary of fees when you first appoint a solicitor. It is advisable to find a couple fee estimate.