In reading online forums for a recommended lawyer in Glan Conwy, many comment that I must look for a CQS kitemarked lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's biggest mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. The scheme does not cover licenced conveyancers. Glan Conwy is one of the many areas of the UK where there are Accredited solicitors.
I'm purchasing my first flat in Glan Conwy with the aid of help to buy. The sellers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about the extras as it would jeopardize my mortgage with the bank. Is this normal?.
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 have been recommended by a few estate agents in Glan Conwy to choose a solicitor on your site. What’s the financial incentive for Estate Agents to promote your services rather than another?
We refuse to give any commission for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
My husband and I are first time buyers - agreed a price, yet the agent informed us that the seller will only move forward if we appoint the agent's preferred conveyancers as they want a ‘quick sale’. We would rather use a high street conveyancer used to conveyancing in Glan Conwy
We suspect that the seller is unaware of this request. If they want ‘a quick sale', turning down a serious buyer is is going to put the whole deal at risk. Avoid the agents and go straight to the sellers and make sure they comprehend that (a)you are serious purchasers (b)you are ready to go, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your preferred Glan Conwy conveyancing firm - as opposed tothose that will earn the negotiator at the agency a referral fee or hit his conveyancing thresholds pre-set by corporate headquarters.
What are the frequently found problems that you witness in leases for Glan Conwy properties?
Leasehold conveyancing in Glan Conwy is not unique. Most leases are unique and drafting errors can sometimes mean that certain sections are wrong. The following missing provisions could result in a defective lease:
Repairing obligations to or maintain elements of the building Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Barclays , Chelsea Building Society, and Barclays Direct all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, obliging the buyer to pull out.
I purchased a garden flat in Glan Conwy, conveyancing formalities finalised in 2005. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Glan Conwy with a long lease are worth £195,000. The ground rent is £45 per annum. The lease finishes on 21st October 2085
With just 63 years left to run we estimate the price of your lease extension to be between £16,200 and £18,600 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first getting professional advice.