My husband and I are purchasing a new build duplex in Penllergaer and my solicitor is informing me that she is duty bound to the lender to disclose incentives from the builder. I am on a tight deadline to exchange contracts and I don't want to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am close to exchanging contracts on the sale of our property in Penllergaer and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local lawyer would know that there is no such problem. For the life of me I don't know why the buyers used a factory type conveyancing outfit rather than a conveyancing solicitor in Penllergaer. We have lived in Penllergaer for 5 years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing solicitor already. Are they able to advise? You should enquire of 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 life insurance to cover that same illness)
I am buying a new build apartment in Penllergaer. Conveyancing is a frightening process 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 are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Penllergaer
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. 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. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Penllergaer is where the house is located. What do you suggest?
Flying freeholds in Penllergaer are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penllergaer you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penllergaer may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
At what stage do I incur the Stamp Duty Land Tax chargeable for my Penllergaer property purchase?
The majority of property lawyers will complete a Land Transaction Return Form for you during your Penllergaer purchase transaction for signature. After completion your property lawyer will submit your Land Transaction application to the Inland Revenue and - assuming they have the funds - pay any tax bill due for you.