The Llanrwst conveyancing lawyers that just started acting on my house acquisition in Llanrwst have suddenly shut down. They were on acting for me because I had to have a solicitor on the Nationwide conveyancing panel and my family Llanrwst lawyer was not. I paid them 275 plus VAT on account. What are my options?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nationwide conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Me and my brother have a renovated Victorian property in Llanrwst. Conveyancing practitioner represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llanrwst and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Llanrwst differ for newly converted properties?
Most buyers of new build premises in Llanrwst contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is built. This is because builders in Llanrwst typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Llanrwst or who has acted in the same development.
I have been on the look out for a ground for flat up to £195,000 and identified one round the corner in Llanrwst I like with a park and station nearby, the downside is that it only has 61 years unexpired on the lease. I can't really find anything else in Llanrwst for this price, so just wondered if I would be making a mistake acquiring a short lease?
If you need a mortgage the remaining unexpired lease term will be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
We're new to the buying process - agreed a price, but the agent told us that the owners will only proceed if we instruct the agent's recommended conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a high street solicitor who is familiar with conveyancing in Llanrwst
It is improbable the vendors are behind this. If they desire ‘a quick sale', turning down a genuine purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Llanrwst conveyancing solicitors - rather thanthose that will give the negotiator at the agency a introducer fee or meet his conveyancing thresholds set by head office.
What is the reason for my lawyer requiring various items of ID ahead of starting my conveyancing in Llanrwst?
Llanrwst property lawyers are required by the Law Society, SRA, the Land Registry and current Money Laundering legislation to certify that the have verified the identity of their clients. It will also be a condition of your lender if you are taking a mortgage. In addition they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, NI number and DOB.