After what seems like an age a mortgage agreement from HSBC for the remortgage of my 3 room garden flat is expected by the end of next week. Are you able to put forward a low cost conveyancing law firm in Penmaenmawr?
You are on the wrong site if you are in need of cut-price fees for conveyancing solicitors in Penmaenmawr. Our aim is to provide affordable conveyancing but we do not work with the cheapest lawyers. Do not be seduced by organisations teasing you with ninety nine pound conveyancing in Penmaenmawr. In your best case scenario, in deciding on low cost conveyancing, you will get your money’s worth and at worst you will end up with a hefty uplift in additional fees and still not get the service required.
I have today made my last payment due on my mortgage with Lloyds. I assume I don't need a Penmaenmawr solicitor on the Lloyds panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Lloyds mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Lloyds mortgage from the register. Lloyds, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Lloyds has sent the Land Registry the discharge electronically, and
- Lloyds has instructed the Land Registry to do so
I currently have a mortgage with Aldermore for my property in Penmaenmawr. Conveyancing was finalised some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Aldermore?
Aldermore must be informed of your intention in advance of renting your property as this is likely to be a breach of Aldermore’s mortgage conditions. It may be that Aldermore will permit you to let 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 Aldermore directly. You need not do this via a Aldermore conveyancing panel solicitor.
Santander have agreed my mortgage in principle, my bid on a flat in Penmaenmawr has been accepted, what happens next?
The property agent will need to be informed of your solicitor's details (ensure that the conveyancers are on the lender’s panel). Call up Santander or your broker and complete any appropriate paperwork. Santander will appoint a valuer who will get in touch with the estate agent or seller to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Santander will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Penmaenmawr.
four months have elapsed following my purchase conveyancing in Penmaenmawr completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Penmaenmawr differ for new build properties?
Most buyers of new build residence in Penmaenmawr approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is finished. This is because house builders in Penmaenmawr typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Penmaenmawr or who has acted in the same development.
My uncle has suggested that I instruct his conveyancers in Penmaenmawr. Should I use them?
No doubt it’s preferable to select a conveyancing lawyer is to get guidance from friends or family who have used the solicitor you're are thinking of instructing.