I am getting a offer of a home loan from Lloyds. I intend to use a Licensed Conveyancer in Capel Curig. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I'm buying a new build house in Capel Curig with a mortgage from Yorkshire Building Society. The developers refused to move on the price so I negotiated 6k of additionals instead. The sale representative advised me not to tell my conveyancer about the side-deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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 issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Capel Curig is where the house is located. Is there any advice you can give?
Flying freeholds in Capel Curig are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Capel Curig you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Capel Curig 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 residence.
What tools are available to search for a Capel Curig law firm on the Yorkshire Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 20miles to meet the conveyancer.
You can use the search on this website. Please pick a bank and your location and you will see a number of Capel Curig conveyancing lawyers locally. We have detailed some Capel Curig conveyancing firms towards the end of this page and you can call them to see if they are on the Yorkshire Building Society panel
Can you provide any advice for leasehold conveyancing in Capel Curig with the aim of saving time on the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Capel Curig can be reduced if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold documentation needed by the purchasers’ representatives. A minority of Capel Curig leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. The bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their solicitors. If you are supposed to have a share in the Management Company, you should ensure that you have the original share certificate. Organising a new share certificate is often a time consuming formality and slows down many a Capel Curig home move. If a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible. If there is a history of any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be warry about purchasing a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic as opposed to unsettled. You believe that you know the number of years remaining on your lease but it would be advisable verify this by asking your conveyancers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is below 80 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
I own a 1st floor flat in Capel Curig, conveyancing formalities finalised in 2004. How much will my lease extension cost? Corresponding properties in Capel Curig with a long lease are worth £176,000. The ground rent is £50 yearly. The lease comes to an end on 21st October 2101
With only 80 years left to run the likely cost is going to be between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action placing reliance on this information before seeking the advice of a professional.