My partner’s step-father is a property lawyer. I hope that I will receive mate’s pricing for conveyancing, However if that does not come materialise, what kind of costs should I be expecting for conveyancing in Penylan?
Do contrast pricing. Make use of our comparison tool on this page. You will notice that quotes will vary but the service one can expect differ between solicitors as is true with the vast majority of professional services.
I have a 4 bedroom Georgian house in Penylan. Conveyancing solicitor represented me and Halifax. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Penylan and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing practitioner who conducted the purchase.
How does conveyancing in Penylan differ for newly converted properties?
Most buyers of new build property in Penylan approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Penylan tend to purchase the site, 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 Penylan or who has acted in the same development.
In relation to leasehold conveyancing in Penylan what are the most frequent lease problems?
There is nothing unique about leasehold conveyancing in Penylan. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are missing. For example, if your lease is missing any of the following, it could be defective:
Repairing obligations to or maintain elements of the property A provision for the recovery of money spent for the benefit of another party.
You will have a problem when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Coventry Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
I own a ground floor flat in Penylan, conveyancing having been completed 3 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Penylan with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease terminates on 21st October 2078
With just 55 years remaining on your lease we estimate the price of your lease extension to range between £31,400 and £36,200 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do 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 clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information without first seeking the advice of a professional.
How do I find out who owns a property in Penylan?
As long as the premises is recorded at the Land Registry, and you have the details of the location of the property, you will be able to see results from the HM Land Registry of the recorded proprietor for a fee.