We went with a local solicitor for my conveyancing in Abergele recently. Going through the Terms and Conditions I seewe are liable for charges even if the movedoes not proceed. Would I be best advised to use a web based solicitor practice advertising no-sale-no-fee conveyancing in Abergele?
Generally there is a compromise along the lines that if "No Sale No Fee" is available then the fee levels will tend to be be more expensive to counteract those conveyances that abort. Please beware that such deals tend not to cover expenses e.g. Abergele conveyancing search fees.
We have rather assertive sellers who has recommended a lock out contract with a down payment 6,000. Are such agreements sensible?
Exclusivity contracts are contracts between a home vendor and prospective acquirer giving the buyer exclusive rights to purchase the premises within a prescribed time frame. Essentially, an exclusivity agreement is a contract specifying that you will receive a contract at a later time being the contract for the actual sale. It tends to be used for buyer protection though in many situations, the owner may enjoy an upside from such agreements as well. There are various pros and cons to using them but you need to check with your solicitor but note that it may result in costing you more in conveyancing charges. In light of these reasons these agreements are not popular in relation to conveyancing in Abergele.
Is it the case that all Abergele CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
A selection of lenders now use CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
The mortgage over my property is with Bank of Ireland for my property in Abergele. 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 buy-to-let mortgage or inform Bank of Ireland?
You must advise Bank of Ireland prior to renting your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland 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 Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel lawyer.
I had an offer accepted on an apartment in Abergele on 20/5/2025, valuation was booked 3 days later, all came back fine. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Co-operative and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Co-operative conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm buying my first flat in Abergele benefiting from help to buy. The sellers refused to reduce the amount so I negotiated 6k of extras instead. The property agent suggested that I not to tell my solicitor about this side-deal as it would jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been pointed in your direction by a few property agents in Abergele to choose a solicitor using your seach tool. What’s the financial advantage for Estate Agents to recommend your lawyers ahead of alternative conveyancing organisations?
We don’t make any financial incentive for sending work in our direction. We thought it would be too underhand a fee because home movers will think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.
I am looking at a couple of apartments in Abergele both have approximately fifty years remaining on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a prescribed time frame. As a lease gets shorter the value of the lease reduces and it becomes more costly to acquire a lease extension. For this reason it is advisable to increase the term of the lease. It is often difficult to sell a property with a short lease because mortgage lenders less inclined to grant a loan on such properties. Lease enfranchisement can be a difficult process. We recommend you seek professional assistance from a solicitor and surveyor with experience in this area.
I am the registered owner of a garden flat in Abergele, conveyancing having been completed half a dozen years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Abergele with over 90 years remaining are worth £190,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2086
With just 61 years remaining on your lease we estimate the price of your lease extension to be between £18,100 and £20,800 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure in the absence of comprehensive investigations. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.