We are selling our house in Gwynedd. Does the conveyancing practitioner have to be required to be on the Nationwide conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
I am aiming to move property in May. Should my conveyancing solicitor update the removal company on the completion day. As an aside, can you suggest a removal company in Gwynedd. Conveyancing solicitor was found before I stumbled across this site.
On the afternoon of completion you can collect the house keys from the selling agent however this should only happen after the vendors lawyers confirm to the agent that they have the completion monies and the keys can be passed over. You should inform the removal company that you are ready to move in. We do not recommend a particular removal company but can help you choose a conveyancing in Gwynedd or a firm that specialises in conveyancing in Gwynedd.
Please help - my lawyer advises that flying freehold insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Gwynedd?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between HSBC Bank and Leeds Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
Virgin Money have agreed my home loan in principle, my offer on a apartment in Gwynedd has been accepted, what are the next steps?
The property agent will need to know who your solicitors are (be sure the conveyancers are on the bank’s panel). Call up Virgin Money or your financial adviser and complete any relevant forms. Virgin Money will sellect a valuer who will get in touch with the selling agent or owners to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Virgin Money will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Gwynedd.
Me and my brother own a renovated Edwardian house in Gwynedd. Conveyancing practitioner acted for me and Virgin Money. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Gwynedd and other locations in 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 enquire as to the situation with the conveyancing practitioner who carried out the work.
I am buying a new build house in Gwynedd with a loan from Nationwide Building Society. The developers refused to budge the price so I negotiated £7000 of additionals instead. The sale representative told me not reveal to my lawyer about the side-deal as it may adversely affect my mortgage with the bank. Should I keep quiet?.
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.
Do you have any advice for leasehold conveyancing in Gwynedd with the purpose of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Gwynedd can be avoided where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the buyers’ representatives. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Gwynedd state that internal structural changes or laying down wooden flooring require a licence issued by the Landlord acquiescing to such works. If you fail to have the consents to hand do not contact the landlord without contacting your lawyer in advance. You believe that you know the number of years left on your lease but it would be advisable double-check via your solicitors. A buyer’s conveyancer will be unlikely to recommend their client to where the lease term is under 80 years. It is therefore essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale. If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a replacement share certificate is often a time consuming process and frustrates many a Gwynedd conveyancing deal. Where a new share is required, you should approach the company director and secretary or managing agents (where relevant) for this sooner rather than later.
I purchased a leasehold flat in Gwynedd, conveyancing was carried out half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Gwynedd with a long lease are worth £221,000. The average or mid-range amount of ground rent is £50 yearly. The lease runs out on 21st October 2088
You have 70 years left to run the likely cost is going to be between £9,500 and £11,000 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. Do not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.