Do the conveyancing solicitors Indexed on your site conduct auction conveyancing in Towyn?
We know of a number of niche solicitors we can put you in touch with those specialising in auction conveyancing. Towyn is just one of the many locations where our lawyers have offices.
Finally the sale completed on my house in Towyn last February yet the purchaser is texting daily to moan that his lawyer needs to hear from myconveyancer. What should have happened following completion?
Following your sale your lawyer is duty bound to deliver the transfer deeds and all supplemental paperwork to the buyer’s lawyers. Depending on the transaction, your conveyancer must also confirm that the mortgage has been paid off to the buyers lawyers. There is unlikely to be post completion formalities just for conveyancing in Towyn.
I purchased a renovated Edwardian house in Towyn. Conveyancing solicitor acted for me and TSB. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Towyn and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with the conveyancing lawyer who completed the work.
I have been on the look out for a flat up to £195,000 and found one close by in Towyn I like with open areas and station nearby, however it's only got 52 years on the lease. There is not much else in Towyn in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years will be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Do you have any top tips for leasehold conveyancing in Towyn from the point of view of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Towyn can be avoided where you instruct lawyers the minute your agents start marketing the property and ask them to put together the leasehold documentation needed by the purchasers’ lawyers. Many landlords or Management Companies in Towyn charge for supplying management packs for a leasehold premises. You or your lawyers should discover the actual amount of the charges. The management pack can be applied for as soon as you have a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most frequent reason for delay in leasehold conveyancing in Towyn. You may think that you are aware of the number of years left on your lease but you should double-check via your solicitors. A buyer’s conveyancer will not be happy to advise their client to where the lease term is under 80 years. It is therefore essential at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your home on the market for sale. If you have the benefit of shareholding in the freehold, you should make sure that you hold the original share certificate. Arranging a re-issued share certificate can be a lengthy formality and frustrates many a Towyn home move. If a reissued share is necessary, do contact the company officers or managing agents (where relevant) for this sooner rather than later. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you laid down wooden flooring? Towyn leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord approving such alterations. Should you dont have the consents to hand you should not communicate with the landlord without contacting your conveyancer before hand.
I invested in buying a 1st floor flat in Towyn, conveyancing was carried out February 2001. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Towyn with a long lease are worth £211,000. The average or mid-range amount of ground rent is £45 yearly. The lease ceases on 21st October 2088
With only 67 years left to run we estimate the premium for your lease extension to range between £10,500 and £12,000 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 due diligence. You should not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.