Is it necessary during the course of the conveyancing process to pop into the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in Llanishen so that I can attend their offices if required.
As opposed to 15 years ago, the vast majority banks no longer require their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to hand over ID documents and there are still distinct benefits to choosing a local solicitor, in your case a conveyancing solicitor in Llanishen.
I am the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Llanishen. The Llanishen property was put into my name in June. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership will be treated the same way as though I had purchased the house in June. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How sensible a view mortgage companies take of it, depend on the bank as this provision chiefly exists to capture the purchase and immediately sell or the flipping of property.
We previously instructed solicitors with offices in Llanishen on the Leeds Building Society solicitor approved list. They are now charging me a supplemental fee for the legal aspects of the Leeds Building Society mortgage. Is this a supplemental conveyancing fee set by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer is entitled to charge a fee for this. The charge is not set by Leeds Building Society but by your Llanishen property lawyer. Plenty of firms on the Leeds Building Society panel will charge an ‘acting for lender’ fee and others do not.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Llanishen solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Llanishen surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
four months have gone by following my purchase conveyancing in Llanishen took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since discovered that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Llanishen. Conveyancing solicitors have not yet been instructed. Will my lawyers set out the risks of buying a leasehold house in Llanishen ?
The majority of houses in Llanishen are freehold rather than leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are buying in Llanishen in which case you should be looking for a Llanishen conveyancing practitioner and check that they are used to advising on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’spermission to conduct changes to the property. You may also be required to pay a maintenance charge towards the maintenance of the estate where the house is part of an estate. Your lawyer will report to you on the legal implications.
I own a 2 bed flat in Llanishen, conveyancing having been completed half a dozen years ago. Can you work out an approximate cost of a lease extension? Comparable properties in Llanishen with a long lease are worth £201,000. The ground rent is £45 charged once a year. The lease comes to an end on 21st October 2084
With just 65 years unexpired we estimate the premium for your lease extension to span between £13,300 and £15,400 as well as professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.
Some weeks ago I was advised by my lender that their approved conveyancers work on no sale no fee basis for conveyancing in Llanishen. My purchase fell through nevertheless the conveyancers have invoiced for search fees! They are claiming that the fees are independent!
Llanishen conveyancing search fees are separate expenses not legal fees as these are paid to independent parties.