Me and my partner are intending to acquire a 3 bedroom flat in Gwynedd with a mortgage. We would like to retain our Gwynedd solicitor, however the mortgage company advise he's not on their "panel". It seems we have no option but to appoint one of the bank panel conveyancing practices or retain our Gwynedd property lawyer as well as pay for one of their panel firms to act for them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Gwynedd conveyancing lawyer to apply to be on the conveyancing panel.
Despite weeks of looking the Title Certificate and documents to my home are lost. The conveyancers who dealt with the conveyancing in Gwynedd 5 years ago no longer exist. Will I be able to sell the house?
These day there are copies made of almost everything, and your solicitor will know precisely where to find all the suitable documentation so you can buy or dispose of your property without any difficulty. Where duplicates can’t be found, your solicitor may be able to put in place insurance or indemnities against future claims on your premises.
I am buying my first flat in Gwynedd benefiting from help to buy. The developers refused to budge the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not reveal to my conveyancer about the deal as it may impact 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.
As co-executor for the will of my aunt I am disposing of a property in Cardiff but reside in Gwynedd. My solicitor (who is 235 miles awayhas requested that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Gwynedd who can witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are located in Gwynedd
I am looking at a couple of flats in Gwynedd which have in the region of forty five years remaining on the leases. Will this present a problem?
A lease is a right to use the premises for a period of time. As a lease gets shorter the marketability of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease because mortgage lenders may be reluctant to lend money on properties of this type. Lease extension can be a protracted process. We recommend you get professional assistance from a conveyancer and surveyor with experience in this area.
I acquired a split level flat in Gwynedd, conveyancing was carried out in 2000. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Gwynedd with over 90 years remaining are worth £216,000. The ground rent is £50 invoiced annually. The lease ends on 21st October 2087
With just 69 years unexpired the likely cost is going to range between £9,500 and £11,000 plus professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you the actual costs without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns 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 seeking the advice of a professional.