It is 10 years ago since I purchased my property in Abersoch. Conveyancing lawyers have recently been retained on the sale but I can't track down my deeds. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the mortgage company or they could be archived with the conveyancers who acted in your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Abersoch relates to registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
My partner and I are selling our house in Abersoch and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a factory type conveyancing practice rather than a conveyancing solicitor in Abersoch. We have lived in Abersoch for three years we know of no issue. Do we contact our local Authority to seek confirmation that there is no issue.
It would appear that you have a conveyancing lawyer already. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Me and my brother own a terraced Victorian property in Abersoch. Conveyancing solicitor represented me and Norwich and Peterborough Building Society. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, the second leasehold under the matching address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register for 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 Abersoch 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 situation with your conveyancing practitioner who conducted the conveyancing.
I am purchasing a new build house in Abersoch with the aid of help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not inform my solicitor about this side-deal as it would impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the input of my in-laws I had a survey completed on a property in Abersoch before instructing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some lenders may refuse to give a loan on such a property.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Abersoch. Conveyancing may be slightly more expensive based on your lender's requirements.
I've recently bought a leasehold flat in Abersoch. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a 2 bed flat in Abersoch, conveyancing formalities finalised 7 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Abersoch with an extended lease are worth £202,000. The ground rent is £55 invoiced every year. The lease runs out on 21st October 2082
With just 56 years left to run we estimate the price of your lease extension to span between £29,500 and £34,000 plus legals.
The figure above a general guide to costs for renewing a lease, but we are not able to supply the actual costs without more comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.