We instructed a Llandudno based lawyer for my conveyancing in Llandudno today. Looking through the Terms I seewe are on the hook for fees even where the conveyance does not complete. Should I ditch them and choose a web based solicitor practice promoting no move no charge conveyancing in Llandudno?
It is usually ‘give and take’ in that if "No Sale No Fee" is offered then the conveyancing charges will generally be higher to cover the cases that do not go ahead. Please beware that these promotions rarely protect you from expenditure by way of example Llandudno conveyancing search charges.
We see that you have a search directory listing law firms on the TSB conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Llandudno?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Llandudno.
We have agreed to purchase a house in Llandudno. An unusual aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Coventry BS your lawyer must check the conveyancing requirements set out in Section two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook sets out minimum conditions for solar panel roof-space leases, and conveyancers are required to report to Coventry BS where a lease does not comply with these requirements. The specifications relate to the installation of panels on properties countrywide and is not limited to Llandudno.
My wife and I are in the process of looking at flats in Llandudno and I am now considering a potential offer. Should I already have a solicitor appointed at this stage? I intend to finance via a mortgage with Nottingham.
It would be wise to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
The mortgage over my property is with Nationwide for my property in Llandudno. Conveyancing was finalised 12 months ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval in advance of renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel solicitor.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, chain free conveyancing. Llandudno is the location of the property. Is there any advice you can give?
Flying freeholds in Llandudno are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Llandudno you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Llandudno may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am a negotiator for a reputable estate agent office in Llandudno where we have experienced a few leasehold sales put at risk due to short leases. I have been given inconsistent advice from local Llandudno conveyancing firms. Can you confirm whether the vendor of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Leasehold Conveyancing in Llandudno - A selection of Queries before buying
Does the lease contain onerous restrictions? The answer will be helpful as a) areas may cause problems in the block as the communal areas may begin to deteriorate if services are not paid for b) if the leasehold owners have an issue with the managing agents you will wish to have full disclosure Best to be warned whether redecorating or some other major work is pending that will be shared amongst the leasehold owners and will materially impact the level of the maintenance charges or necessitate a specific payment.
When it comes to my conveyancing in Llandudno should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Llandudno conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.