Our Conwy solicitor has identified an inconsistency between the information in the home valuation survey and what is in the legal papers for the property. My solicitor informs me that he must check that the lender is OK with this discrepancy and is still content to lend. Is my solicitor’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are there restrictive covenants that are commonly identified as part of conveyancing in Conwy?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Conwy. 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…’
Due to the input of my in-laws I had a survey completed on a house in Conwy before instructing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will refuse to give a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Conwy. Conveyancing will be smoother if you use a solicitor in Conwy especially if they regularly deal with such properties in Conwy.
My uncle has urged me to instruct his conveyancers in Conwy. Should I use them?
Much as we are happy to recommend a Conwy conveyancing lawyer the best way to select a conveyancing lawyer is to seek recommendations from friends or relatives who have actually previously instructed the conveyancer you're contemplating using.
I am hoping to put an offer on a small detached house that appears to tick a lot of boxes, at a great figure which is making it more attractive. I have subsequently been informed that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a leasehold house in Conwy. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Conwy ?
Most houses in Conwy are freehold and not leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can assist with the conveyancing process. it is apparent that you are buying in Conwy in which case you should be shopping around for a Conwy conveyancing solicitor and be sure that they have experience in transacting on leasehold houses. First you will need to check the number of years remaining. Being a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions such as obtaining the freeholder’spermission to carry out alterations. You may also be required to pay a contribution towards the upkeep of the estate where the house is part of an estate. Your conveyancer will appraise you on the various issues.
Conwy Conveyancing for Leasehold Flats - Examples of Questions you should ask before buying
How many of the leaseholders are in arrears for their maintenance charge payments? This question is helpful as a) areas could cause problems in the building as the common areas may start to deteriorate if services are not paid for b) if the leaseholders have an issue with the running of the building you will wish to have all the details It is important to be aware if changing the roof or some other major work is pending that will be shared between the leasehold owners and will materially impact the level of the service costs or result in a specific invoice.