Is the fact that my solicitor in Prestatyn is not identified on my bank's solicitor panel that there is a problem with the quality of his work?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Prestatyn conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
We are about to sign contracts for a semi detached house in Prestatyn. We encountered a snag. Our loan offer with Birmingham Midshires expires on 2/8/2023 but the sellers are insisting on a completion date of 4/8/2023. Is it possible to extend the mortgage expiry date?
The best person to address this question is your lawyer who will hopefully determine if he or she is should be discussing with the lender, owner’s lawyers, selling agents or indeed all three taking into account what has gone on in your transaction to date.
There is lots of information on this site concerning conveyancing in Prestatyn but what is your top tip for appointing the right conveyancer in Prestatyn
Do not opt for the lowest Prestatyn conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
Have just purchased a repossessed house at auction in Prestatyn. Conveyancing is necessary. What is next?
Having for all intents and purposes signed on the dotted line you should retain a conveyancing lawyer soon as you are facing a tight deadline in which to complete the conveyancing. An auction property will have a corresponding auction set of papers. This will likely include evidence of title and search results. Where you are dealing with leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to a leasehold property. You need to pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
I have a mortgage with Nationwide for my property in Prestatyn. Conveyancing was finalised a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention prior to renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel solicitor.
Various web forums that I have frequented warn that are a common reason for hinderance in Prestatyn house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any delay in conveyancing in Prestatyn.
I'm purchasing a new build house in Prestatyn with the aid of help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent advised me not inform my lawyer about this extras as it could impact my mortgage with Santander. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Prestatyn is the location of the property. What do you suggest?
Flying freeholds in Prestatyn are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Prestatyn you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Prestatyn may ascertain 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 residence.