My Bodelwyddan lawyer has uncovered an inconsistency between the surveyor’s assumptions in the valuation survey and what is in the title deeds. My solicitor informs me that he is duty bound to ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s course or action appropriate?
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 you.
In what way does my ID and proof of funds have anything to do with my conveyancing in Bodelwyddan? What am I being asked for?
You are right in these requests have nothing to do with conveyancing in Bodelwyddan. Nowadays you will not be able to proceed with any conveyancing transaction without first handing over evidence of your identity. This usually takes the form of a either your passport or driving licence and a utility bill. Please note that if you are supplying your driving licence as proof of ID it must be both the paper section and photo card part, one is not satisfactory without the other.
Evidence of your origin of money is required under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer must retain this information on file. Your Bodelwyddan conveyancing solicitor will require evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask additional queries concerning the source of monies.
My father advised me that in buying a property in Bodelwyddan there could be various restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Bodelwyddan which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Bodelwyddan should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm the sole beneficiary of my late mum's will and I have everything in my name now, including the house in Bodelwyddan. Conveyancing formalities meant that the Land Registry date was in April. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as if I'd bought the property in April. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. Some mortgage companies would take a sensible view as this requirement primarily exists to identify the purchase and immediately sell or the quick reselling of properties.
I have decided to exercise my right to buy my property in Bodelwyddan off the council. I have a mortgage offer with Barclays. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Bodelwyddan is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bodelwyddan are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bodelwyddan you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bodelwyddan 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 property.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Bodelwyddan. I've chance upon a site which seems to have the ideal offering If it is possible to get all formalities done via email that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I've recently bought a leasehold house in Bodelwyddan. Am I liable to pay service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Bodelwyddan, conveyancing was carried out half a dozen years ago. Can you work out an approximate cost of a lease extension? Corresponding properties in Bodelwyddan with an extended lease are worth £211,000. The average or mid-range amount of ground rent is £50 levied per year. The lease runs out on 21st October 2094
With just 68 years left to run the likely cost is going to be between £9,500 and £11,000 plus legals.
The figure above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.