I was told recently by my mortgage broker that my Betws Y Coed solicitor is not on the bank Conveyancing panel. What can I do to be sure whether this is correct?
The best course of action for you to take is to contact your Betws Y Coed conveyancer. You lawyer should notify you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
What is the difference between a licensed conveyancer and conveyancing solicitor in Betws Y Coed
There are many registered licenced Conveyancers in Betws Y Coed and Solicitor partnerships in Betws Y Coed who provide Conveyancing services It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
When it comes to lenders such as Lloyds, do Betws Y Coed solicitors face an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Betws Y Coed building society branch on various occasions and was reassured it wasn't a problem and they will lend. My Betws Y Coed conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend based on their specific requirements. Who do I believe?
Your solicitor must follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
What does a local search inform me about the property I am purchasing in Betws Y Coed?
Betws Y Coed conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company such as PSG The local search is essential in every Betws Y Coed conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
four months have gone by since my purchase conveyancing in Betws Y Coed completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, chain free conveyancing. Betws Y Coed is where the house is located. Is there any guidance you can impart?
Flying freeholds in Betws Y Coed are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Betws Y Coed you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Betws Y Coed may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm buying a house in Betws Y Coed. I can find my conveyancer's company on the Law Society's list, but I can't locate my conveyancer's name on the list. Is this a big problem?
Not all staff in the practice must be listed by the regulator. As long there is a manager qualified to 'oversee' the transaction, the actual day-to-day activity can be conducted by unqualified staff.