Is it possible for conveyancing in Monmouthshire to be done in less than two weeks?

First, If the seller is applying pressure for your conveyancing it is advisable to make sure that your solicitor is familiar with the area as they will benefit local contacts and know-how. It is possible that they could have transacted otherhouses in the same street. You would be best advised to use a Monmouthshire conveyancing firm. Second, make sure that the lawyer is on the lender panel. It is believed that just under twenty per cent of Monmouthshire conveyancing transactions are held up or derailed after discovering a purchaser’s lawyer was not on their mortgage lender’s member panel. In many cases this discovery resulted in the home move being held up by an average of three weeks. It is believed that this issue affects in the region of one hundred thousand home sales every year. Most Monmouthshire conveyancing firms can not represent certain mortgage companies so do check at the outset.

I note that there are debates on Chancel Insurance on online forums. Am I compelled to take this when buying a property in Monmouthshire? or Apparently there is an ancient law that means some owners of property living in a parish church boundary may be liable to pay for repairs to the chancel in proximity to the church. Is this a legitimate concern for conveyancing in Monmouthshire?

Unless a previous acquisition of the property completed post 12 October 2013 you can assume that solicitors carrying out conveyancing in Monmouthshire to continue to advocate a chancel search and or chancel repair liability insurance.

Are there restrictive covenants that are commonly identified as part of conveyancing in Monmouthshire?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Monmouthshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

My husband and I are one month into a leasehold purchase having been referred to solicitors by the local agent to do our conveyancing in Monmouthshire. I am not happy. Could you help me find new lawyers?

A lawyer would have to be really poor in order to consider changing them. Has the loan offer been generated? If so you need to make them aware of the new contact details and have the loan are issued to the new lawyers. The solicitor ideally should be on the mortgage company approved list to avoid supplemental fees and delays. So that should be your starting point. Our search tool will help you find a bank approved conveyancer for your conveyancing in Monmouthshire

I am looking at a couple of maisonettes in Monmouthshire which have in the region of fifty years left on the leases. Do I need to be concerned?

There are no two ways about it. A leasehold apartment in Monmouthshire is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the premises. For most purchasers and lenders, leases with less than eighty years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Monmouthshire conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Monmouthshire Conveyancing for Leasehold Flats - Sample of Queries before buying

What prohibitions are contained in the Monmouthshire Lease? Who are the managing agents? On the whole the outlay for major works are not incorporated into the maintenance charges, albeit that there some managing agents in Monmouthshire obliged leasehold owners to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance.