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Find a St Fagans Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in St Fagans? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your St Fagans home move at risk of delay or failure.

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Recently asked questions about conveyancing in St Fagans

The St Fagans conveyancing firm handling our St Fagans conveyancing has spotted a difference between the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My lawyer informs me that he is duty bound to check that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s approach correct?

Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Do conveyancers ask for an advanced payment for conveyancing in St Fagans?

If you are buying a property in St Fagans your solicitor will request that you place them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the Local Authority Search. If any down payment is payable against the purchase price then this should be needed shortly in advance of contracts are exchanged. Any further balance that is needed will be payable shortly before completion.

How does conveyancing in St Fagans differ for newly converted properties?

Most buyers of new build or newly converted property in St Fagans come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is constructed. This is because builders in St Fagans usually acquire 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 conveyancing solicitors 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 St Fagans or who has acted in the same development.

I am looking for a flat up to £195,000 and found one near me in St Fagans I like with open areas and station in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in St Fagans for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?

Should you require a mortgage the shortness of the lease will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.

My offer on semi in St Fagans has been accepted, but there is a chain. The vendors have submitted an offer on somewhere, however it’s not yet agreed to, and has viewings of other properties in the pipeline. I have selected a local conveyancing lawyer in St Fagans. What should be my next step? At what stage do I apply for the mortgage with Principality?

It is usual to have concerns where there is an associated chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, St Fagans conveyancing search costs, etc). The first thing to do is check that your conveyancer is on the Principality conveyancing panel. As to the next steps this very much depends on the specifics of your transaction, desire for this property and on the state of the market. During a buoyant market the majority of home buyers will apply for the mortgage with Principality and pay for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to move forward with searches.

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