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Recently asked questions about conveyancing in Betws Y Coed

Last March we completed a house move in Betws Y Coed. We have noticed several problems with the house which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been ordered as part of conveyancing in Betws Y Coed?

The query is not clear as to the nature of the problems and if they are specific to conveyancing in Betws Y Coed. Conveyancing searches and investigations initiated during the legal transfer of property are designed to help avoid problems. As part of the process, a property owner completes a document referred to as a Seller’s Property Information Form. If the information is inaccurate, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Betws Y Coed.

I am about to put an offer on a leasehold apartment in Betws Y Coed. The selling agents advise that it is standard for flats in Betws Y Coed to have less than 75 years left on the lease. I am obtaining a mortgage with Platform. Will the property be mortgageable given that the lease has 69 years unexpired.

Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Platform have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 20/7/2021 the requirements read as follows :

Minimum 85 years unexpired from completion, except where the mortgage application is pursuant to Platform's participation in the Government's Help to Buy Shared Equity scheme, in which case (a) the unexpired lease term must not be less than 250 years for new-build houses and not less than 125 years for new-build flats and (b) ground rent must be reasonable at all times and any escalation must be linked to RPI (Retail Price Index) or a similar index.

Will commercial conveyancing searches reveal impending roadworks that could impact a commercial estate in Betws Y Coed?

Its becoming the norm that commercial conveyancing solicitors in Betws Y Coed will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Betws Y Coed. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Betws Y Coed.

For every commercial conveyancing transaction in Betws Y Coed it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could result in delays to Betws Y Coed commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Betws Y Coed.

Are there restrictive covenants that are commonly identified during conveyancing in Betws Y Coed?

Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Betws Y Coed. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am buying my first flat in Betws Y Coed with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of extras instead. The house builders rep advised me not disclose to my conveyancer about the side-deal as it will adversely affect my loan with the bank. Is this normal?.

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.

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Neighbouring Locations

Rowen
Llanrwst
Trefriw
Capel Curig
Betws Y Coed
Dolwyddelan
Blaenau Ffestiniog

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