My partner and I are nearing an exchange on a property in Towyn and my mum and dad have transferred the exchange deposit to my lawyer. I am now told that as the deposit has been received from someone other than me my solicitor needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to be an issue?
The solicitor is obliged to check with the bank to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
I am being advised by my conveyancer that flying freehold insurance is required on my purchase. What is the level of cover for Towyn conveyancing?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and The Royal Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
I'm the sole beneficiary of my late grandmother’s will and I have everything in my name now, including the my former home in Towyn. Conveyancing formalities meant that the Land Registry date was in June. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership could be treated the same way as though I had purchased the property in June. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. Most banks would take a practical view as this clause primarily exists to identify subsales or the flipping of property.
After what feels like an age I have had an offer on a maisonette in Towyn agreed to, but there is a chain. The owners have offered on a property, however it’s not yet agreed to, and have viewings of other apartments booked. I have instructed a nearby conveyancing solicitor in Towyn. What do I do now? When should I get the mortgage application with UBS started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then survey, Towyn conveyancing search charges, etc). The first thing to do is ensure that your lawyer is on the UBS approved list. As to the subsequent stages this very much depends on the uniqueness of your case, motivation for this property and on the state of the market. During a rising market many buyers would apply for a home loan with UBS and arrange for the valuation and only if it was satisfactory would they ask their lawyer to proceed with the conveyancing in Towyn.
My wife and I own a 4 bedroom Edwardian house in Towyn. Conveyancing solicitor represented me and Chelsea Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should read 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Towyn and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing practitioner who carried out the work.
What makes your site different to alternative web based conveyancing solicitors for conveyancing in Towyn?
At this site receive a conveyancing quote from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Towyn. As opposed to estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. A large number of agents and online brokers 'recommend' solicitors paying the most kickback, not the best value conveyancing in Towyn
In searching the internet for the phrase conveyancing in Towyn it brings up many solicitorslocally. How do I determine which is the suitable conveyancer for me?
The ideal way of finding the right conveyancer is via trusted testimonial, so ask colleagues and relatives who have acquired a property in Towyn or a local estate agent or mortgage broker. Charges for conveyancing in Towyn vary, so it's sensible to request at least four estimates from varying types of companies. Dont forget to clarify that the charges are assured not to rise.
I have just appointed agents to market my garden apartment in Towyn. Conveyancing is yet to be initiated, however I have recently received a yearly service charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would given that all rents and service payments should be allotted as part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I am the registered owner of a garden flat in Towyn, conveyancing formalities finalised in 2001. Can you give me give me an indication of the likely cost of a lease extension? Equivalent flats in Towyn with over 90 years remaining are worth £195,000. The average or mid-range amount of ground rent is £45 charged once a year. The lease terminates on 21st October 2087
You have 63 years unexpired we estimate the premium for your lease extension to be between £16,200 and £18,600 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use this information in a Notice of Claim or as an informal offer. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.