Our family solicitor has sent a quote for £1700 for no sale no fee conveyancing in Towyn. I am selling a modern detached home for £275,000. Is this too much? Is it above the norm for conveyancing in Towyn?
The charges are a bit high. If you are happy to spend time scrutinising charges you could trim some of the cost by say £125. That being said, you couldcome to rue choosing an an unknown lawyer. Don't forget to check that the solicitor can represent your lender. You can utilise our comparison tool to select a Towyn conveyancing company on the banks approved list of lawyers which can often include conveyancing solicitors in Towyn.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Towyn. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/3/2023, the requirements read as follows :
My wife and I purchased a 4 bedroom Victorian property in Towyn. Conveyancing practitioner represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the exact same address. Is it worth asking Nottingham Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner 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 remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
I am buying my first flat in Towyn with a mortgage from Nationwide Building Society. The sellers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not disclose to my lawyer about the side-deal as it will jeopardize my loan with Nationwide Building Society. Should I keep quiet?.
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.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Towyn is the location of the property. Can you shed any light on this issue?
Flying freeholds in Towyn are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Towyn you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Towyn may determine 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 premises.
A licensed conveyancer dealt with my conveyancing in Towyn half a dozen years ago and was holding my title documents but has now closed – how do I retreive these?
Title deeds, as such, no longer exist as the majority of homes in Towyn are registered digitally at Land Registry. If you need to prove ownership or are disposing of or refinancing your solicitor should obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to firstname.lastname@example.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned as quickly as possible.