The housing market in Harlech is hotting up. What can I do to speed up matters?
In the event that the seller is applying a tight deadline to exchange it is highly recommended that your solicitor is familiar with the location as they will make use of local relationships and intelligence. It is possible that they could have transacted previoushomes in the same neighbourhood. You would be best advised to use a Harlech conveyancing solicitor. In addition, be sure that the lawyer is on the member panel. It is said that 18% of Harlech conveyancing deals are suspended or jeopardised after discovering a buyer’s solicitor was not on their mortgage lender’s member panel. In many cases this discovery resulted in the legal transfer of property being frustrated by as much as three weeks. It is understood that this issue affects approximately one hundred thousand home moves annually. Many Harlech conveyancing firms can not act for certain lenders so do check at the outset.
I'm the single beneficiary of my late grandmother’s estate and I have everything in my name alone, including the my former home in Harlech. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be treated the same way as though I had purchased the house in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. Some lenders would take a sensible view as this obligation is chiefly there to pick up on subsales or the flipping of property.
We had instructed conveyancers based in Harlech on the TSB solicitor panel. They have just invoiced me a separate amount for dealing with the TSB mortgage. Is this a supplemental conveyancing fee set by TSB?
Unfortunately, so long as it is in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. The fee is not dictated by TSB but by your Harlech conveyancing practitioner. Some firms on the TSB panel will charge ’dealing with mortgage’ fee but many practices include it on their overall fee.
The formalities of my remortgage has taken place for my property in Harlech. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I'm buying a new build house in Harlech with the aid of help to buy. The developers refused to budge the price so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my solicitor about this extras as it may put at risk my loan with the 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.
How can the Landlord & Tenant Act 1954 affect my commercial property in Harlech and how can you help?
The particular law that you refer to provides security of tenure to commercial leaseholders, granting the right to make a request to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Harlech is one of the numerous locations in which our lawyers are based
I need to find a conveyancing solicitor for some conveyancing in Harlech. I have discover a web site which looks to be the perfect answer If there is a chance to get all this stuff done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I work for a busy estate agent office in Harlech where we have experienced a number of leasehold sales put at risk due to short leases. I have received contradictory information from local Harlech conveyancing firms. Can you confirm whether the seller of a flat can start the lease extension formalities for the purchaser on completion of the sale?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Harlech Leasehold Conveyancing - A selection of Queries before Purchasing
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The prefered form of lease arrangement is a share of the freehold. In this scenario the lessees enjoy control and although a managing agent is frequently employed if the building is bigger than a house conversion, the managing agent employed by the leaseholders. Are any of leasehold owners in arrears of their service charge payments? If a Harlech lease has no more than 80 years it will impact the marketability of the flat. It is worth checking with your lender that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Harlechlease extensions you will be required to have been the owner of the premises for two years before you are legally able to extend the lease.