We're in Pontcanna, First timers buying with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We have agreed to purchase a house in Pontcanna. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Principality your lawyer must check the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Principality. The CML Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Principality where a lease does not satisfy these provisions. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Pontcanna.
Completion of my purchase has taken place for my property in Pontcanna. Conveyancing was of an acceptable standard but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Intending to buy a house in Pontcanna. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Coventry BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Pontcanna lawyer is on the Coventry BS conveyancing panel.
4 months have elapsed since my purchase conveyancing in Pontcanna concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a quick, no chain conveyancing. Pontcanna is the location of the property. Is there any advice you can give?
Flying freeholds in Pontcanna are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pontcanna you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontcanna may decide 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 premises.
Estate agents have just been given the go-ahead to market my 2 bed flat in Pontcanna. Conveyancing is yet to be initiated, but I have recently received a quarterly maintenance charge demand – Do I pay up?
The sensible thing to do is discharge the invoice as you normally would because all rents and service payments should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I inherited a garden flat in Pontcanna, conveyancing formalities finalised in 2003. How much will my lease extension cost? Corresponding flats in Pontcanna with a long lease are worth £206,000. The average or mid-range amount of ground rent is £45 levied per year. The lease ceases on 21st October 2092
With just 66 years remaining on your lease we estimate the premium for your lease extension to span between £12,400 and £14,200 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed 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 you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.