We instructed a Porthmadog based firm for our conveyancing in Porthmadog today. Upon checking the fine print I notewe are liable for charges even where the conveyance does not complete. Should I ditch them and choose an on-line conveyancing company advertising no move no charge conveyancing in Porthmadog?
Generally there is a concession along the lines that if "No Sale No Fee" is available then the conveyancing charges will tend to be be higher to offset those conveyances that abort. Also remember that these promotions rarely cover disbursements for example Porthmadog conveyancing search charges.
My wife and I have recently appointed a conveyancing solicitor in Porthmadog. I I would like to check whether they are on the Skipton Building Society conveyancing panel. Could you advise?
You should contact the solicitor and ask them whether they are on the lender panel. Otherwise you should get in touch with Skipton Building Society who may be able to help.
I have justbecome aware that Wolstenholmes have closed. They conducted my conveyancing in Porthmadog for a purchase of a leasehold apartment 18 months ago. How can I check that my home is registered correctly in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Porthmadog conveyancing specialists.
I opted to have a survey completed on a property in Porthmadog before retaining solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor has said that some banks may refuse to give a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you e-mail us we can investigate further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Porthmadog. Conveyancing will be smoother if you use a solicitor in Porthmadog especially if they are familiar with such properties in Porthmadog.
I've recently bought a leasehold house in Porthmadog. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I bought a split level flat in Porthmadog, conveyancing was carried out April 2004. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Porthmadog with a long lease are worth £197,000. The ground rent is £55 invoiced every year. The lease ends on 21st October 2078
You have 56 years remaining on your lease the likely cost is going to be between £29,500 and £34,000 plus legals.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.
My aim is to acquire a garden maisonette in Porthmadog. Conveyancing solicitor has been waiting for, from the seller, building insurance paperwork. This morning I was advised that the seller must send the insurance paperwork for the flat above also. Why does my conveyancing practitioner need to check the insurance for the other flat? Is it really necessary? We have been in hold for the previous fortnight…
It is not impossible in leasehold conveyancing in Porthmadog to discover Conveyancing in Porthmadog in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats rather than the freeholder insuring the entire building - which is clearly preferable. You should clarify with your lawyer but it would appear that your conveyancer is looking to verify that the whole building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the other flat cannot be reconstructed due to lack of insurance.