I am getting closer to an exchange on a house in Towyn and my parents have transferred the exchange deposit to my conveyancer. I am now advised that as the deposit has been sent from someone other than me my solicitor needs to disclose this to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?

Your conveyancer is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.

Can you explain why leasehold purchase conveyancing in Towyn is more expensive?

Towyn leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.

What does commercial conveyancing in Towyn cover?

Non domestic conveyancing in Towyn incorporates a broad range of guidance, offered by qualified solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.

I am hoping to sign contracts shortly on a garden flat in Towyn. Conveyancing lawyers inform me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Towyn should include some of the following:

Repair and maintenance of the premises The total extent of the premises. This could be the apartment itself but might include a loft or storage are if relevant. It needs to be made clear to you if the lease allows you to alter or improve anything in the property- you must know whether any restrictions applies to all alterations or limited to structural alteration, and whether consent is mandated necessary Information as to the provision as set out in the lease to to contribute towards maintenance costs - in respect of the block, and the wider rights a leaseholder has Where does the liability rest to repair and maintain the block. It is important for you to know who is liable for the repair and maintenance of all parts of the block and communal areas

I own a ground floor flat in Towyn, conveyancing formalities finalised half a dozen years ago. 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 Towyn with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease runs out on 21st October 2096

With only 71 years unexpired we estimate the price of your lease extension to be between £9,500 and £11,000 as well as legals.

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 due diligence. Do not use the figures in tribunal or court proceedings. There may be 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 seeking the advice of a professional.

If instructed can a conveyancer remove a name from the title of my property in Towyn ?

Subtracting or adding someone to the title of your home is relatively straightforward. You’ll need to appoint a lawyer to discuss your legal rights before you can proceed with a transfer of property. Contact us to book a free consultation with one a conveyancing practitioner