Last January we completed a house move in Cyncoed. We have since encountered a number of problems with the house which we consider were missed in the conveyancing searches. What action can we take? Can you clarify the type of searches that should have been carried out for conveyancing in Cyncoed?
It is not clear from the question as to the nature of the problems and if they are relate to conveyancing in Cyncoed. Conveyancing searches and investigations initiated as part of the buying process are carried out to help avoid problems. As part of the process, a seller completes a document referred to as a Seller’s Property Information Form. If the information is inaccurate, you may have a misrepresentation claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Cyncoed.
At what point will exchange of contracts take place for domestic conveyancing in Cyncoed and am I required to attend the lawyers office?
If you are in close proximity to one of the conveyancing solicitors in Cyncoed you are invited in to sign the paperwork. However, the firms we work with supply countrywide coverage for conveyancing and provide just as detailed and professional a job for you when communicating with you by post or email. The signing of the property agreement is not the critical part. A signed contract simply enables the conveyancer to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Cyncoed)to be in the office at the appropriate time.
I completed on my home on 14 August and the transaction details is yet to be registered. Need I be worried? My conveyancing solicitor in Cyncoed expressed confidence that it would be formalised in a couple of weeks. Are titles in Cyncoed particularly slow to register?
There is nothing unique about conveyancing in Cyncoed registration formalities. Rather than based on location, timeframes can vary according to the party submitting the application, whether it is in order and whether the Land registry have to notify any interested parties. Currently in the region of 80% of submission are fully dealt with within 12 days but occasionally there can be longer delays. Historically registration is effected after the new owner has moved in to the premises thus 'speed' is not typically an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
About to purchase a new build apartment in Cyncoed. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Cyncoed
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. Please confirm the Lease plans are architect prepared. 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 evidence that the form of Lease proposed has been approved by the Land Registry.
What makes a Cyncoed lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Cyncoed. All leases are individual and drafting errors can result in certain provisions are wrong. The following missing provisions could result in a defective lease:
Repairing obligations to or maintain parts of the building
You may encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, Chelsea Building Society, and Platform Home Loans Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to pull out.
I invested in buying a 1st floor flat in Cyncoed, conveyancing formalities finalised September 2007. Can you let me have an estimated range of the fair premium for a lease extension? Similar flats in Cyncoed with a long lease are worth £216,000. The ground rent is £50 levied per year. The lease runs out on 21st October 2088
With only 69 years left to run the likely cost is going to be between £9,500 and £11,000 plus costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.