Finally, a loan offer from Nationwide for the refinancing of my single bedroom flat is due by the end of next week. Are you able to suggest a low cost conveyancing practitioner in Maesteg?
This site is not designed to aid those in their quest for the lowest fares for conveyancing in Maesteg. Our goal is to offer value for money conveyancing but our intention is not to advertise as being the cheapest. Do not be seduced by brokers enticing you with ninety nine pound conveyancing in Maesteg. In your best case scenario, in being led by low cost conveyancing, you will end up with what you pay for and at worst it will result in you with a surprising uplift in extras and still not receive the service you were looking for.
We are close to exchanging contracts on the sale of our house in Maesteg and according to the buyers it appears that there is a risk of it being built on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers used a web based conveyancing firm rather than a conveyancing solicitor in Maesteg. We have lived in Maesteg for 4 years we know of no issue. Is it a good idea to contact our local Authority to get clarification need.
It would appear that you have a conveyancing firm already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am purchasing my first flat in Maesteg with a mortgage from Nationwide Building Society. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my conveyancer about this extras as it would jeopardize my mortgage with Nationwide Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a leasehold apartment up to £235,500 and found one close by in Maesteg I like with amenity areas and transport links nearby, the downside is that it only has 52 years unexpired on the lease. I can't really find anything else in Maesteg suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will likely be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
I am looking at a two flats in Maesteg which have about forty five years unexpired on the leases. Should I regard a short lease as a deal breaker?
There is no doubt about it. A leasehold apartment in Maesteg is a deteriorating asset as a result of the shortening lease. The closer the lease gets to zero years unexpired, the more it reduces the value of the property. For most purchasers and lenders, leases with less than eighty years become less and less marketable. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a residence with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Maesteg conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Maesteg Leasehold Conveyancing - Examples of Queries Prior to Purchasing
What is the the remaining lease term? Who are the managing agents? For many Maesteg leaseholds the cost for major works are not included within service charges, although there some managing agents in Maesteg obliged leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for major works.