I'm the only beneficiary of my late mum's estate and I have everything in my name now, including the my former home in Betws Y Coed. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in November. Is the property unsalable for six months?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some lenders would take a pragmatic view as this obligation chiefly exists to identify the purchase and immediately sell or the quick reselling of property.
The formalities of my purchase has taken place for my property in Betws Y Coed. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I am selling my house. I had a double glazing fitted in May 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Aldermore are being pedantic. The Betws Y Coed solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Me and my brother own a 4 bedroom Georgian house in Betws Y Coed. Conveyancing lawyer acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching address. Is it worth asking Lloyds TSB Bank to clarify?
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Betws Y Coed and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also check the situation with the conveyancing practitioner who completed the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Betws Y Coed. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Betws Y Coed
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
I opted to have a survey done on a property in Betws Y Coed prior to retaining lawyers. I have been informed that there is a flying freehold element to the property. The surveyor advised that some banks tend not give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Betws Y Coed. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Betws Y Coed to see if the conveyancing will be more expensive.
I've recently bought a leasehold house in Betws Y Coed. Do I have any liability for service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner 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 ensure 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).
Betws Y Coed Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
The prefered form of lease structure is a share of the freehold. In this arrangement the tenants enjoy control and notwithstanding that a managing agent is frequently employed where it is bigger than a house conversion, the managing agent acts for the leaseholders themselves. It is important to be aware if fixing the lift or some other significant cost is anticipated to be shared amongst the leasehold owners and could well dramatically increase the the maintenance costs or necessitate a specific payment. Its a good idea to discover as much as you can about the company managing the building as they can either make your living at the property much simpler or problematic. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to day to day issues like the cleanliness of the common parts. Ask other people what they think of them. On a final note, find out the dates that the maintenance charges are due to the relevant party and specifically what you get for your money.