Me and my partner are due to exchange on the purchase of a property in Llandudno but as a result of damage from the recent storms I have was able negotiate recompense from the vendor of £2k by way of a deduction in the price. This was going to be addressed as part of amending the contract yet Clydesdale are not allowing this. Should they have been notified?
The conveyancing practitioner being on a Clydesdale approved list is duty bound to disclose to Clydesdale of any amendments to the purchase price. If you were to refuse your lawyer to notify the reduction to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new conveyancing practitioner for your conveyancing in Llandudno.
Various web forums that I have visited warn that are the main reason for delay in Llandudno conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Llandudno.
My wife and I have a renovated Georgian property in Llandudno. Conveyancing lawyer represented me and Halifax. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llandudno and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who carried out the work.
Yesterday I discovered that there is a flying freehold element on a property I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Llandudno is where the house is located. What do you suggest?
Flying freeholds in Llandudno are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Llandudno you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llandudno may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Estate agents have just been given the go-ahead to market my ground floor flat in Llandudno. Conveyancing has not commenced, however I have recently received a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is discharge the maintenance contribution as usual as all ground rent and maintenance charges should be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
I inherited a leasehold flat in Llandudno, conveyancing formalities finalised May 1999. Can you work out an approximate cost of a lease extension? Comparable properties in Llandudno with a long lease are worth £186,000. The ground rent is £55 charged once a year. The lease terminates on 21st October 2078
With only 52 years left to run we estimate the price of your lease extension to be between £29,500 and £34,000 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before seeking the advice of a professional.
Can I discover who is the owner of a property in Llandudno?
On the basis that the premises is registered with the Land Registry, and you have enough information of the address of the premises, you will be able to see results from the the Land Registry of the registered owner for a for less than a fiver.