We're in Tongwynlais, FTBs purchasing with a mortgage (lender is Kent Reliance , and our lawyer is on the Kent Reliance conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Kent Reliance conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no 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.
Does a directory service exist listing RBS panel conveyancers in Tongwynlais on the Council of Mortgage Lender’s Website?
No. There is no such directory service on the CML or Building Society Association websites. Very few banks make their panel listings visible online. Where you are in need of a Tongwynlais lawyer on the RBS please use our facility.
Last month we had a mortgage agreed in principle with RBS. Tongwynlais conveyancing lawyers have been chosen. What is the average time that one could expect to receive a mortgage offer from RBS?
There is no definitive answer here. Have RBS conducted the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The mortgage over my property is with Leeds Building Society for my property in Tongwynlais. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
You must advise Leeds Building Society before letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel firm.
How does conveyancing in Tongwynlais differ for new build properties?
Most buyers of new build property in Tongwynlais contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is built. This is because house builders in Tongwynlais tend to purchase the real estate, 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 Tongwynlais or who has acted in the same development.
Is it possible to swap conveyancer as I have to retain a firm on the HSBC Bank conveyancing list. I instructed a family conveyancing solicitor in Tongwynlais round the corner but the firm is not accepted by HSBC Bank
We will our best to assist in finding you a conveyancing solicitor in Tongwynlais on the HSBC Bank panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are registered with the SRA who regulate all conveyancing solicitors in Tongwynlais. In making use of the find a conveyancing solicitor tool on this site, you can contrast charges for conveyancing solicitors in Tongwynlais and beyond.
I am intending to let out my leasehold flat in Tongwynlais. Conveyancing solicitor who did the purchase is retired - so can't ask her. Do I need to ask my freeholder for permission?
Notwithstanding that your last Tongwynlais conveyancing solicitor is no longer around you can check your lease to see if it allows you to sublet the premises. The accepted inference is that if the deeds are non-specific, subletting is permitted. Quite often there is a prerequisite that you must obtain permission from your landlord or other appropriate person in advance of subletting. The net result is you not allowed to sublet without prior permission. Such consent must not not be unreasonably refused ore delayed. If your lease does not allow you to sublet you should ask your landlord for their consent.
I invested in buying a basement flat in Tongwynlais, conveyancing was carried out in 1995. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Tongwynlais with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2104
With only 80 years unexpired we estimate the price of your lease extension to span between £7,600 and £8,800 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.