Do I need to visit the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Llangollen so that I can pop in to their offices if necessary.
Whereas this was necessary 12 years ago, almost all mortgage companies no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to hand over identification documents and there are still distinct advantages to instructing a locally based practitioner, in your situation a conveyancing solicitor in Llangollen.
We expect to receive a DIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Llangollen solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Llangollen solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
The mortgage over my property is with Clydesdale for my property in Llangollen. Conveyancing has been completed some time ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
You must advise Clydesdale before renting your property as this is likely to be a breach of Clydesdale’s mortgage conditions. It may be that Clydesdale will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. You need not do this via a Clydesdale conveyancing panel firm.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Llangollen solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Llangollen surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Despite weeks of looking the Title Certificate and documents to our home can not be found. The solicitors who did the conveyancing in Llangollen 5 years ago no longer exist. What are my next steps?
Gone are the days when you need to have the physical deeds to establish that you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
The estate agent has sent us the confirmation of our purchase of a new build flat in Llangollen. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Llangollen
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are architect prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
What are the frequently found problems that you come across in leases for Llangollen properties?
There is nothing unique about leasehold conveyancing in Llangollen. Most leases are individual and drafting errors can result in certain sections are erroneous. For example, if your lease is missing any of the following, it could be defective:
Service charge per centages that don't add up correctly leaving a shortfall A provision for the recovery of money spent for the benefit of another party.
You could have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Coventry Building Society, and Nottingham Building Society all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to withdraw.
I am the registered owner of a 1st floor flat in Llangollen, conveyancing was carried out in 2000. How much will my lease extension cost? Corresponding flats in Llangollen with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 levied per year. The lease comes to an end on 21st October 2082
With only 62 years unexpired we estimate the price of your lease extension to be between £17,100 and £19,800 as well as professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.