My brother and I have recently bought a property in Pontcanna. We have since encountered a number of problems with the property which we suspect were missed in the conveyancing searches. Do we have any recourse? What searches should? have been ordered as part of conveyancing in Pontcanna?
It is not clear from the question as what problems have arisen and if they are relate to conveyancing in Pontcanna. Conveyancing searches and investigations initiated during the buying process are designed to help avoid problems. As part of the legal transfer of property, a property owner completes a document called a Seller’s Property Information Form. If the information provided is incorrect, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Pontcanna.
Do banks and building societies provide you with an approved list of Pontcanna conveyancing solicitors? How do you know who is on the Skipton conveyancing panel?
Pontcanna conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
Forgive me if this question is silly but I am new to the house moving as a 1st time buyer of a ground floor flat in Pontcanna. Do I receive the keys to the house on completion from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Pontcanna?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
How can we know in advance if a Pontcanna conveyancing solicitor on the Nationwide panel is any good?
When it comes to conveyancing in Pontcanna seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your transaction.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Pontcanna solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore 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 Pontcanna 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.
How does conveyancing in Pontcanna differ for newly converted properties?
Most buyers of new build or newly converted property in Pontcanna approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because developers in Pontcanna tend to 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 Pontcanna or who has acted in the same development.
I work for a busy estate agency in Pontcanna where we have witnessed a few leasehold sales derailed due to short leases. I have been given inconsistent advice from local Pontcanna conveyancing solicitors. Can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
I invested in buying a studio flat in Pontcanna, conveyancing having been completed 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent properties in Pontcanna with an extended lease are worth £195,000. The ground rent is £45 per annum. The lease terminates on 21st October 2087
With only 63 years unexpired the likely cost is going to range between £16,200 and £18,600 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before seeking the advice of a professional.