When it comes to lenders such as Bank of Ireland, do Bangor solicitors incur an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We previously instructed conveyancing lawyers locally in Bangor on the Aldermore solicitor approved list. They are now charging me a separate amount for handling the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer may charge a fee for this. The charge is not dictated by Aldermore but by your Bangor lawyer. Numerous firms on the Aldermore panel will levy an ‘acting for lender’ fee but plenty of practices incorporate it on their overall fee.
My husband and I are at the point of viewing flats in Bangor and I am now considering a potential offer. Is it advisable to have my conveyancer on ‘stand by’? I am planning to take a home loan with Co-operative.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are taking out a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
I own a semi-detached Georgian property in Bangor. Conveyancing practitioner represented me and Skipton Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to read 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 Bangor and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing lawyer who carried out the work.
I'm purchasing my first flat in Bangor with a mortgage from HSBC Bank. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not reveal to my solicitor about the extras as it would jeopardize my loan with HSBC Bank. Is this normal?.
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.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Bangor is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bangor are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bangor you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bangor 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 property.
Due to sign contracts shortly on a studio apartment in Bangor. Conveyancing lawyers assured me that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Bangor should include some of the following:
It needs to be made clear to you if the lease permits you to change or upgrade anything in the premises- you must be made aware as to whether it relates to all alterations or limited to structural alteration, and whether consent is mandated necessary What remedies are open the freeholder should you have contravened the provisions of the lease? Changes to the property Ground rent - what is payable and when you need to pay, and be on notice if this is subject to change You need to be told what constitutes a Nuisance in the lease
Leasehold Conveyancing in Bangor - A selection of Questions you should ask before buying
Does this lease have more than 90 years remaining? You should be aware that where the lease has less than 80 years it will affect the marketability of the apartment. Check with your bank that they are happy with the length of the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and it is worth discovering how much this will be. Remember, in most cases you would need to own the premises for 24 months in order to be eligible to exercise a lease extension.
It has taken forever and a day but a mortgage offer from a lender for the refinancing of my 2 bedroom flat is to be issued imminently. Could you suggest an efficient remortgage conveyancing practitioner in Bangor ?
You have come to the wrong place to search for the cheapest conveyancing solicitors in Bangor. We can offer you value for money conveyancing but we do not work with the cheapest lawyers. Resist the temptation to appoint brokers offering low cost conveyancing in Bangor.At best, in going for cheap conveyancing, you will get what you pay for and at worst you will end up paying a lot in additional fee and still not receive the service required.