I was told yesterday by my IFA that my Nefyn the law firm I have appointed is not on the lender Conveyancing panel. How can I be sure if this is correct?
You need to call your Nefyn conveyancer. You lawyer should notify you of the situation. If they are not on the panel they may recommend you to a Nefyn conveyancing practice that is on the conveyancing panel for your bank.
At what point does exchange of contracts occur in purchase conveyancing in Nefyn and do I need to be at the solicitors office?
If you are near to one of the conveyancing solicitors in Nefyn you are welcome to come in to sign the paperwork. That being said, the firms we work with offer a countrywide conveyancing service and provide just as comprehensive and professional a job for you when communicating with you by post or email. The executing of the sale agreement is not when everything is set in stone. A signed contract simply enables the conveyancer to exchange contracts at the appropriate time, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Nefyn)to be in the office at the appropriate time.
I am downsizing from our property in Nefyn and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A high street Nefyn lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed an online conveyancing practice as opposed to a conveyancing solicitor in Nefyn. We have lived in Nefyn for many years we know of no issue. Do we contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, chain free conveyancing. Nefyn is where the house is located. Can you offer any guidance?
Flying freeholds in Nefyn are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Nefyn you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nefyn 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 property.
I am four weeks into a freehold purchase having been directed to solicitors by the local agent to perform conveyancing in Nefyn. I am am very dissatisfied with the quality of service. Could you you assist me in finding new conveyancers?
They would need to be very bad to suggest replacing them. Has the mortgage been issued? If so you must inform them of the new contact details and get the offer are issued to the new lawyers. Your solicitor ideally needs to be on the banks approved list to avoid escalating charges and delays. So that should be your first question of the new conveyancers. The search tool will assist you in finding a bank approved solicitor for your home move in Nefyn
Can you provide any advice for leasehold conveyancing in Nefyn with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Nefyn can be reduced where you appoint lawyers the minute your agents start advertising the property and ask them to collate the leasehold information needed by the buyers’ lawyers. Some Nefyn leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to notify your estate agents to make sure that the purchasers put in hand bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you hold a share in a the Management Company, you should make sure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming process and frustrates many a Nefyn home move. Where a new share certificate is necessary, you should approach the company director and secretary or managing agents (if relevant) for this at the earliest opportunity. You may think that you are aware of the number of years left on your lease but it would be advisable double-check via your conveyancers. A buyer’s conveyancer will not be happy to advise their client to to exchange contracts if the lease term is below 75 years. It is therefore important at an early stage that you consider whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
I invested in buying a studio flat in Nefyn, conveyancing formalities finalised 7 years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable flats in Nefyn with over 90 years remaining are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease expires on 21st October 2086
With 61 years left to run we estimate the premium for your lease extension to range between £19,000 and £22,000 as well as plus your own and the landlord's "reasonable" professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.