We decided to go with a local solicitor for my conveyancing in Risca today. Upon checking the Terms it is apparent thatwe are liable for fees even if the sale aborts. Should I ditch them and select a web based firm who offer no move no charge conveyancing in Risca?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the fee levels will tend to be be more expensive to counteract those conveyances that do not go ahead. Dont forget that such promotions generally do not cover disbursements such as Risca conveyancing search charges.
My wife and I are refinancing our penthouse in Risca with Yorkshire BS. We have a son 19 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Yorkshire BS conveyancing panel as he never had to sign this form when we remortgaged 5 years ago (2) Does our son by signing this compromise his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Yorkshire BS. This is solely used to protect Yorkshire BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Yorkshire BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am buying a end of terrace house in Risca. The intention is to carry out an extension to the side at the property.Will legal due diligence on the property include checks to determine if these alterations are permitted?
Your solicitor should review the registered title as conveyancing in Risca will sometimes reveal restrictions in the title documents which prevent categories of alterations or necessitated the permission of a 3rd party. Many works call for local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
I'm the only recipient of my late father’s will and I have everything in my name alone, including the my former home in Risca. The Risca property was put into my name in January. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view lenders take of it, depend on the lender as this clause principally exists to identify subsales or the wholesaling and assigning of property.
It is unclear whether my lender requires a lease extension. I have called my Risca bank branch on various occasions and was reassured it wasn't a problem and they will lend. My Risca conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend based on their published requirements. I have no idea who is right.
As long as the lawyer is on the bank approved list, they must adhere to the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Various online forums that I have visited warn that are the primary reason for delay in Risca conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Risca.
Been looking for a conveyancing practitioner for freehold sale conveyancing in Risca. We are selling, simple no mortgage to redeem, no rush, currently empty. Had an estimate from a property lawyer for nine hundred pounds including VAT which is a little steep considering its so straightforward. Is it possible to find less expensive fees for conveyancing in Risca?
As it’s a sale only, £500 + VAT should be about the cheapest for a Risca solicitor firm.