Our mortgage company has recommended a law firm on their panel based in Glan Conwy but I would rather use a conveyancing lawyer in Glan Conwy round the corner to me. Can you help?
Not all Glan Conwy conveyancing firms are on all lender’s conveyancing panel. Please make use of our find an approved solicitor tool to choose a Glan Conwy conveyancing solicitor on the on the lender panel.
I am buying a 4 bedroom semi-detached house in Glan Conwy. Our aim is to carry out an extension to the side at the property.Will the conveyancing process involve investigations to determine if these alterations were previously refused?
Your solicitor should check the deeds as conveyancing in Glan Conwy will on occasion identify restrictions in the title documents which prevent categories of changes or require the consent of a 3rd party. Many works call for local authority planning consent and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
I happen to be the single recipient of my late father’s will with all property in now in my sole name, including the house in Glan Conwy. The Glan Conwy property was put into my name in July. I now wish to sell up. I do know about the Mortgage Lenders 6 month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the property in July. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Most lenders would take a pragmatic view as this requirement is primarily there to capture the purchase and immediately sell or the flipping of property.
is it true that all Glan Conwy conveyancing solicitors on the Virgin Money conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Virgin Money conveyancing panel they would need to be regulated by the SRA. Some lenders do permit licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I am buying a new build house in Glan Conwy with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of extras instead. The estate agent told me not inform my lawyer about this deal as it will affect 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 advice of my in-laws I had a survey completed on a house in Glan Conwy before instructing lawyers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks will not grant a loan on a flying freehold home.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Glan Conwy. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to locate a Glan Conwy solicitor on the Aldermore conveyancing panel? I have wheels and am willing to travel upto 25miles to meet the solicitor.
You can use the tool on this website. Please select a lender and your location and you will see a number of Glan Conwy conveyancing lawyers located nearest you. We have listed some Glan Conwy conveyancing firms towards the end of this page and you can telephone them to verify if they are on the Aldermore panel
I am looking at a two flats in Glan Conwy which have in the region of 50 years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Glan Conwy is a wasting asset as a result of the shortening lease. The closer the lease gets to its expiry date, the more it reduces the salability of the property. For most buyers and lenders, leases with less than eighty years become less and less marketable. 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 a property 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 Glan Conwy conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new 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.
Glan Conwy Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
Who are the managing agents? Many Glan Conwy leasehold flats will have a service bill for maintenance of the block set by the management company. Where you acquire the property you will have to meet this contribution, usually quarterly accross the year. This can vary from several hundred pounds to thousands of pounds for blocks with lifts and large communal areas. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant sum, say around £25-£75 but you need to enquire as on occasion it can be many hundreds of pounds. It is important to be aware whether redecorating or some other major work is pending to be shared between the leaseholders and could well materially increase the the maintenance fees or necessitate a one off payment.