When can the exchange of contracts occur in domestic conveyancing in Menai Bridge and am I required to attend the conveyancers office?
Where you are in close proximity to one of the conveyancing solicitors in Menai Bridge you are welcome to come in to sign the paperwork. However, the law practices we work with offer countrywide coverage for conveyancing and give just as detailed and professional a job for you when dealing with you electronically. The signing of the property agreement is not the critical part. A signed contract is just a prerequisite for the solicitor to address the formalities at the suitable time, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Menai Bridge)to be in the office at the appropriate time.
My bid for a property was accepted at auction in Menai Bridge. Conveyancing is necessary. What happens now?
Having legally committed yourself to purchase you now have to retain a conveyancing lawyer quickly as you are faced with a pending deadline in which to complete the purchase. Every auction property will ordinarily have an associated auction pack. This will include evidence of title and search results. In the case of leasehold premises the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You need to pass this on to the lawyer working for you at the earliest opportunity. Do make sure that your finances are organised to complete on the date specified in the contract.
When it comes to lenders such as Santander, do Menai Bridge lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have today made my last payment due on my mortgage with Leeds Building Society. I assume I don't need a Menai Bridge solicitor on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Should our lawyer be raising enquiries regarding flooding during the conveyancing in Menai Bridge.
Flooding is a growing risk for lawyers carrying out conveyancing in Menai Bridge. Some people will acquire a house in Menai Bridge, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a number of checks that can be undertaken by the purchaser or by their conveyancers which can give them a better understanding of the risks in Menai Bridge. The standard information given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to find out if the property has suffered from flooding. If the residence has been flooded in past which is not revealed by the vendor, then a buyer could commence a compensation claim as a result of such an misleading response. A buyer’s conveyancers should also order an environmental report. This should disclose whether there is a recorded flood risk. If so, further investigations will need to be carried out.
Are there restrictive covenants that are commonly picked up during conveyancing in Menai Bridge?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Menai Bridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am looking for a leasehold apartment up to £195,000 and identified one near me in Menai Bridge I like with amenity areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. There is not much else in Menai Bridge suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this.
Is it possible to transfer to a new solicitor as I need to retain a firm on the Santander conveyancing list. I had appointed a family conveyancing solicitor in Menai Bridge five minutes from me but the firm is not approved by Santander
It would be our pleasure to assist you select a conveyancing solicitor in Menai Bridge on the Santander panel. Please note that the property lawyers that we work with do not pay us a referral fee if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Menai Bridge. Using search facility on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Menai Bridge.