Forgive me if this question is silly but I am wet behind the ears as FTB of a ground floor flat in Llandaff North. Do I pick up the keys to the property on completion from my lawyer? If so, I will use a local conveyancing solicitor in Llandaff North?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s solicitors, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and start moving into the property. Usually this happens between 1 and 3pm.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Llandaff North building society branch on numerous occasions and was told it does not impact the mortgage offer and they would lend. My Llandaff North conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your solicitor must follow the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I recently had an offer agreed on a house in Llandaff North. My mortgage broker recommended their conveyancers. I paid an upfront payment of £200. Not long after, the conveyancing practitioner called me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Llandaff North?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Llandaff North. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Llandaff North differ for new build properties?
Most buyers of new build residence in Llandaff North approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Llandaff North tend to purchase 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 conveyancing solicitors 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 Llandaff North or who has acted in the same development.
I am looking for a flat up to £235,500 and found one round the corner in Llandaff North I like with open areas and station nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Llandaff North for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the shortness of the lease will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
My cousin has suggested that I use his conveyancers in Llandaff North. Should I find my own solicitor?
There are no two ways about it it’s preferable to select a conveyancing solicitor is to get feedback from friends or family who have actually used the solicitor you're considering.