lenderpanel

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 transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised St Fagans conveyancers for over 130 lenders.


Recently asked questions about conveyancing in St Fagans

I purchased a freehold residence in St Fagans yet invoiced for rent, why is this and what is this?

It is rare for properties in St Fagans and has limited impact for conveyancing in St Fagans but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

It has been five months since my purchase conveyancing in St Fagans took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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 am purchasing a new build house in St Fagans with the aid of help to buy. The developers refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep suggested that I not to tell my conveyancer about the side-deal as it would adversely affect my loan with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in St Fagans I like with amenity areas and station nearby, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in St Fagans for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?

If you need a mortgage that many years may be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.

Due to sign contracts shortly on a leasehold property in St Fagans. Conveyancing solicitors have said that they are sending me a report next week. What should I be looking out for?

The report on title for your leasehold conveyancing in St Fagans should include some of the following:

    Whether your lease has a provision for a slush fund? You should receive a copy of the lease The landlord’s rights to access the premises. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Will you be prohibited or prevented from having pets in the property? The total extent of the property. This might be the apartment itself but could also incorporate a attic or basement if appropriate.
For details of the information to be contained in your report on your leasehold property in St Fagans please ask your conveyancer in ahead of your conveyancing in St Fagans.

St Fagans Leasehold Conveyancing - Examples of Queries Prior to Purchasing

    The prefered form of lease arrangement is if the freehold reversion is in the ownership of the leaseholders. In this situation the leaseholders enjoy control and notwithstanding that a managing agent is frequently retained where the building is bigger than a house conversion, the managing agent is directed by the tenants. Does the lease have onerous restrictions? Most St Fagans leasehold apartments will incur a service charge for maintenance of the block set on behalf of the management company. If you purchase the apartment you will have to meet this contribution, usually periodically accross the year. This may be anything from a few hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a ground rent for you to pay annual, this is usually not a significant amount, say approximately £50-£100 but you should to check it because sometimes it can be many hundreds of pounds.

Last updated

Find out more about how flying freehold can affect your the value of a property.