My fiance and I are purchasing an apartment in Blaenau Ffestiniog. My Solicitor is not listed on the bank conveyancing list. Can I still continue with my Blaenau Ffestiniog conveyancing solicitor even though they are excluded from the mortgage company panel of approved conveyancing solicitors?
Various options include
- Proceed with your existing Blaenau Ffestiniog lawyer but your mortgage company will need to instruct a property lawyer from their approved panel. The net result is additional cost together with potential frustration.
- Choose a fresh property lawyer to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Appeal to your property lawyer to attempt to join the mortgage company panel
The owners have rather brash sellers who has recommended a exclusivity contract with a deposit 10k. Are such agreements sensible?
This type of preliminary agreement is not the norm in Blaenau Ffestiniog, conveyancers will often direct clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the solicitor is left exposed. Secondly, there is no guarantee that just because the seller has entered into an exclusivity contract they will sell to you. They may be tempted to break the contract if they receive a big enough financial inducement to do so because a wronged claimant with the benefit of a lockoutcontract will still have to show losses as a consequence of the breach and these may not equate the financial benefit that the owner may secure by breaking the agreement, however morally reprehensible it undoubtedly is.
What is the first thing I need to know regarding purchase conveyancing in Blaenau Ffestiniog?
You may not hear this from too many lawyers but conveyancing in Blaenau Ffestiniog and elsewhere in Gwynedd is an adversarial process. In other words, when it comes to conveyancing there exists an abundance of opportunity for conflict between you and other parties involved in the home moving process. E.g., the vendor, estate agent and even potentially your bank. Selecting a law firm for your conveyancing in Blaenau Ffestiniog should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the legal process whose role it is to look after your legal interests and to keep you safe.
We are witnessing a distinct ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. You your first instinct should be to trust your lawyer ahead of the other players when it comes to the legal transfer of property.
This question may be naive but I am wet behind the ears as a 1st time buyer of a ground floor flat in Blaenau Ffestiniog. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will find a local conveyancing solicitor in Blaenau Ffestiniog?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you should be invited to pick up the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I happen to be the single beneficiary of my late grandmother’s will and I have everything in my name now, including the house in Blaenau Ffestiniog. The Blaenau Ffestiniog property was put into my name in January. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be regarded the same way as if I'd bought the house in January. Do I have to wait 6 months to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view lenders take of it, depend on the mortgage company as this obligation primarily exists to pick up on the purchase and immediately sell or the flipping of property.
I have decided to exercise my right to buy my property in Blaenau Ffestiniog off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
We're new to the buying process - had an offer accepted, yet the selling agent advised that the vendor will only proceed if we instruct their recommended solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Blaenau Ffestiniog
It is unlikely the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you are going to use your preferred Blaenau Ffestiniog conveyancing lawyers - as opposed tothe ones that will earn the negotiator at the agency a commission or achieve conveyancing figures set by HQ.
There are only Sixty One years remaining on my lease in Blaenau Ffestiniog. I now wish to extend my lease but my freeholder is can not be found. What are my options?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to track down the lessor. On the whole an enquiry agent should be useful to try and locate and to produce an expert document to be used as proof that the landlord can not be located. It is wise to seek advice from a conveyancer both on proving the landlord’s absence and the vesting order request to the County Court covering Blaenau Ffestiniog.
I inherited a 1 bedroom flat in Blaenau Ffestiniog, conveyancing formalities finalised June 1996. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Blaenau Ffestiniog with a long lease are worth £190,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease comes to an end on 21st October 2088
You have 62 years unexpired we estimate the price of your lease extension to be between £17,100 and £19,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.