My brother and I have lately bought a property in Towyn. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. What action can we take? What searches should? have been conducted for conveyancing in Towyn?

The question is not clear as what problems have arisen and if they are specific to conveyancing in Towyn. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are designed to help avoid problems. As part of the legal transfer of property, the vendor answers a document called a Seller’s Property Information Form. If the information proves to be misleading, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Towyn.

As someone not used to the Towyn conveyancing process what’s the number one tip you can impart concerning the ownership transfer in Towyn

You may not hear this from too many lawyers but conveyancing in Towyn or throughout England and Wales is often a confrontational process. Put another way, when it comes to conveyancing there exists an abundance of room for conflict between you and others involved in the transaction. For example, the seller, property agent and sometimes a mortgage company. Choosing a law firm for your conveyancing in Towyn should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the legal process whose interest is to protect your best interests and to keep you safe.

Sometimes a third party with a vested interest may attempt to sway you that you should follow their advice. For instance, the property agent may claim to be helping by suggesting your solicitor is slow. Or your mortgage broker may tell you to do take action that is against your solicitors advice. You should always trust your lawyer above all other parties in the conveyancing process.

A relative advised me that in buying a property in Towyn there could be various restrictions as to what one can do in terms of external changes to a property. Is this right?

We are aware of a number of properties in Towyn which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Towyn should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.

My fiancee and I are at the point of viewing flats in Towyn and I am about to put in an offer. Is it sensible to have my conveyancing practitioner on ‘stand by’? I will be getting a home loan with Barclays.

It would be sensible to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are obtaining a mortgage with Barclays, ask your prospective lawyers if they are on the Barclays conveyancing panel otherwise they can't do the mortgage legal work.

I have paid off my mortgage with Skipton. I assume I don't need a Towyn conveyancing practitioner on the Skipton panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Skipton 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 Skipton mortgage from the register. Skipton, 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:

1. but are not moving to another property
2. where Skipton has sent the Land Registry the discharge electronically, and
3. Skipton has instructed the Land Registry to do so

In scouring the web for the phrase cheap conveyancing in Towyn it shows results of many solicitorsin the area. How do I determine which is the suitable conveyancer for purchase transaction?

The best method of choosing the right conveyancer is via personal recommendation, so enquire of friends and those you trust who have acquired a property in Towyn or a local estate agent or financial adviser. Costs for conveyancing in Towyn differ, so it's a good idea to obtain at least four quotes from different property lawyers. Dont forget to clarify that the costs are guaranteed not to to be inflated.

I am tempted by the attractive purchase price for a two apartments in Towyn which have about forty five years unexpired on the leases. Will this present a problem?

There is no doubt about it. A leasehold flat in Towyn is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to its expiry date, the more it reduces the marketability of the property. For most buyers and banks, leases with under 75 years become less and less attractive. On a more upbeat note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Towyn conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.

Towyn Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying

Are there any major works in the near future that will add a premium to the maintenance costs? Does the lease contain onerous restrictions? How many of the leaseholders are in arrears for their service charge payments?