We are acquiring a new build apartment in Llanrwst and my lawyer is advising me that she is duty bound to the bank to disclose incentives from the seller. I am on a tight deadline to exchange and I don't want to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
is it true that all Llanrwst solicitor practices on the Barclays conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be regulated by the SRA. Some banks do allow licenced conveyancers on their panel and in that case the practice would be regulated by the Council of Licensed Conveyancers.
I have decided to exercise my right to buy my property in Llanrwst off the council. I have a mortgage offer with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
Aldermore have agreed my mortgage in principle, my offer on a apartment in Llanrwst has been agreed to, what are the next steps?
The estate agent will need to be informed of your solicitor's details (ensure that the conveyancers are on the bank’s panel). Contact Aldermore or the financial adviser and complete any outstanding paperwork. Aldermore will appoint a valuer who will get in contact with the selling agent or vendor to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight to receive the mortgage offer. Aldermore will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Llanrwst.
How does the Landlord & Tenant Act 1954 affect my commercial property in Llanrwst and how can you help?
The 1954 Act affords security of tenure to commercial leaseholders, giving them the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Llanrwst
I need to retain a conveyancing solicitor for some conveyancing in Llanrwst. I happened to chance upon a site which seems to have the ideal solution If it is possible to get all formalities completed via web that would be preferable. Should I 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?
My wife and I purchased a leasehold house in Llanrwst. Conveyancing and HSBC Bank mortgage are in place. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a demand for arrears of ground rent dating back to 1991. The conveyancing solicitor in Llanrwst who acted for me is not around. What should I do?
The first thing you should do is make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is indeed the registered owner of the freehold reversion. You do not need to instruct a Llanrwst conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a ground floor flat in Llanrwst, conveyancing formalities finalised 4 years ago. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Llanrwst with an extended lease are worth £216,000. The ground rent is £50 per annum. The lease runs out on 21st October 2091
With just 68 years unexpired we estimate the premium for your lease extension to be between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.
Some weeks ago I was advised by my mortgage company that their panel conveyancers work on no move no charge basis for conveyancing in Llanrwst. My purchase aborted nevertheless the solicitors have requested search fees! They say the fees are seperate!
Llanrwst conveyancing search fees are disbursements not solicitors costs as these are due to a third party.