I am in need of a conveyancer. Should I go for for a web based conveyancer or a local Llandudno conveyancing solicitor?
Established third party relationships are another important factor to consider when appointing conveyancing lawyers. Llandudno conveyancers enjoy connections with mortgage brokers and agents, local authorities, valuers and other law firms meaning the whole process is going to be much smoother for you. Having years of knowledge of the local area also helps too.
I have been told that property searches are the main cause of stalling in Llandudno conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any slowing down conveyancing in Llandudno.
I am purchasing my first flat in Llandudno with a loan from Coventry Building Society. The developers would not move on the amount so I negotiated 6k of additionals instead. The sale representative told me not to tell my conveyancer about the extras as it would put at risk my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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 have been on the look out for a ground for flat up to £235,500 and found one close by in Llandudno I like with a park and railway links in the vicinity, the downside is that it only has 61 remaining years left on the lease. There is not much else in Llandudno suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.
I have been advised by a number of selling agents in Llandudno to choose a property lawyer using your seach tool. What’s the financial incentive for Estate Agents to recommend your services over and above alternative conveyancing organisations?
We don’t offer any referral fee for sending work in our direction. We found it would be just too difficult a fee as a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
We have an offer in principle from Godiva Mortgages Ltd who said we could borrow up to £400k. At what point do we need to instruct a solicitor for conveyancing? Llandudno is where we plan to move to.
It would be wise to instruct a solicitor now and ask them to open a file for you. This will enable: 1) the estate agent to send out the Sales Memo to all parties 2) the seller’s conveyancer to send out the draft contract. That being said, do not ask your solicitor to order searches until you receive your valuation report via Godiva Mortgages Ltd and you are willing to proceed.