My husband and I are intent on purchasing a flat in Towyn. My property lawyer has never been on on the mortgage company solicitor list. Am I still permitted to retain my Towyn conveyancing solicitor even though they are excluded from the bank list of approved lawyers?
One must instruct a property lawyer to complete the formalities if you take out a mortgage to purchase your property. They will carry out all the appropriate legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is in place. You may instruct a Towyn solicitor of your choice. Nevertheless, where the conveyancing practitioner appointed is not a member of the mortgage company conveyancing panel supplemental fees will be levied as separate legal representation will be need by the bank. Bank panel applications can be submitted, so provided your lawyer has not previously sought membership they should take the opportunity to apply.
The Towyn conveyancing firm handling our Towyn conveyancing has spotted a difference between the surveyor’s assumptions in the valuation survey and what is revealed within the title deeds. My solicitor informs me that he is duty bound to check that the lender is OK with this discrepancy and is still content to lend. Is my conveyancer’s stance legitimate?
Your solicitor must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I opted to have a survey carried out on a property in Towyn before instructing lawyers. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Towyn. Conveyancing will be smoother if you use a solicitor in Towyn especially if they are accustomed to such properties in Towyn.
Given that I will soon part with over three hundred thousand on a garden flat in Towyn I wish to have a conversation with the conveyancer regarding theconveyancing before appointing the firm. Can this be arranged?
This is something that we recommend - we would be happy to talk to you we do not take any clients on without you first talking to the lawyer who will be conducting your property ownership legalities in Towyn.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are quoted for your conveyancing in Towyn should be the amount on the final invoice that you end up paying.
Can you offer any advice when it comes to appointing a Towyn conveyancing practice to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Towyn conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Towyn conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
What are the costs for lease extension conveyancing? If they are not ALEP accredited then why not?
Towyn Leasehold Conveyancing - Sample of Questions you should ask before Purchasing
The majority of Towyn leasehold flats will have a service charge for the upkeep of the building invoiced on behalf of the management company. Where you purchase the apartment you will have to pay this charge, normally periodically during the year. This could vary from several hundred pounds to thousands of pounds for buildings with lifts and large common areas. There will also be a rentcharge to be met annual, this is usually not a significant figure, say approximately £50-£100 but you need to enquire as sometimes it could be many hundreds of pounds. Are any of leasehold owners in arrears of their service charge liability?