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Recently asked questions about conveyancing in Pentyrch

I own a freehold premises in Pentyrch but nevertheless invoiced for rent, why is this and what is this?

It is rare for properties in Pentyrch and has limited impact for conveyancing in Pentyrch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.

Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

How does conveyancing in Pentyrch differ for newly converted properties?

Most buyers of new build or newly converted property in Pentyrch approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is built. This is because new home sellers in Pentyrch usually purchase the land, 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 property lawyers 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 accustomed to new build conveyancing in Pentyrch or who has acted in the same development.

In surfing the web for the words conveyancing in Pentyrch it reveals many conveyancerslocally. With so much choice what is the best way to find the suitable conveyancer for me?

The preferential way of finding the right conveyancer is via trusted referral, so seek the guidance of colleagues and those you trust who have purchased a property in Pentyrch or a reputable estate agent or financial adviser. Charges for conveyancing in Pentyrch vary, so it's advisable to secure at least four fee calculations from different conveyancers. Make sure that you clarify that the charges are guaranteed not to rise.

What makes a Pentyrch lease problematic?

Leasehold conveyancing in Pentyrch is not unique. Most leases are unique and drafting errors can sometimes mean that certain clauses are wrong. For example, if your lease is missing any of the following, it could be defective:

    A duty to insure the building A provision to repair to or maintain parts of the property

You may encounter a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Norwich and Peterborough Building Society, and Aldermore all have very detailed requirements 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 purchaser to pull out.

Pentyrch Conveyancing for Leasehold Flats - Sample of Queries Prior to Purchasing

    What is the name of the managing agents? Can you tell me if there are any major works in the near future that will add a premium to the maintenance fees? It would be wise to discover as much as possible concerning the company managing the building as they will either make life much simpler or uncomfortable. As the proprietor of a leasehold property you are often in the clutches of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. You should not be afraid to ask other people if they are happy with their management. In conclusion, investigate as to the dates that the maintenance charges are due to the managing agents and precisely what it includes.

Being a leasehold owner I am on the hook for a maintenance contribution for my ground floor flat in Pentyrch. Due to redundancy and personal issues I fell into arrears with remittance. The management company agreed a payment schedule but there remains two remaining to be paid.

I now wish to dispose of the property and I am concerned this can threaten to derail the sale if I have to settle the amount due in advance. I'd like to sell up and subsequently pay them back with the proceeds - is this achievable?

You should check with the conveyancing practitioner conducting your Pentyrch conveyancing but one option could be to arrange for the arrears to be passed to the purchasers. The sale price payable would be adjusted to reflect the amount of debt they assume. They could then deal with the fees once they are the owners.

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