Me and my partner are purchasing property in Glan Conwy. My lawyer is not listed on the bank conveyancing list. Am I still permitted to appoint my Glan Conwy conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
You have numerous choices open to you here
- Complete the deal with your preferred Glan Conwy property lawyer but your lender will no doubt retain a conveyancer on their approved panel. The net result is additional cost together with probable interruption.
- Appoint a new conveyancer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your solicitor to do everything within their powers to get accepted on the lender’s conveyancing panel
My husband and I intend to remortgage our apartment in Glan Conwy with Bank of Ireland. We have a son 19 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two questions (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
As a FTB what is the most important advice you can give me regarding purchase conveyancing in Glan Conwy?
Not many law firms or advisers will tell you this but conveyancing in Glan Conwy or throughout England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is lots of room for friction between you and others involved in the transaction. For example, the vendor, property agent and even potentially the bank. Choosing a solicitor for your conveyancing in Glan Conwy is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose interest is to protect your legal interests and to protect you.
There is a definite increase in the "blame" culture- someone has to be blamed for the process being so protracted. You your first instinct should be to trust your solicitor ahead of all other parties in the home moving process.
What happens if my lawyer’s firm is removed from the TSB Solicitor panel ahead of completing my conveyancing in Glan Conwy?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
The estate agent has sent us the confirmation of our purchase of a new build flat in Glan Conwy. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Glan Conwy
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
I am looking for a flat up to £195,000 and found one round the corner in Glan Conwy I like with open areas and railway links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Glan Conwy suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.