We were just about to sign contracts for a leasehold flat in Capel Curig. We have hit a stumbling block. Our mortgage offer with Norwich and Peterborough Building Society expires on 22/9/2026 but the owners are suggesting a completion date of 24/9/2026. Can one extend the loan expiry date?
The person best placed to deal with your question is your lawyer who is in a position to assess if he or she is corresponding with the mortgage broker, vendor’s solicitors, estate agents or indeed all three taking into account what has gone on in your house move as of today.
We're in Capel Curig, First time buyers purchasing with a mortgage (lender is Aldermore , and our solicitor is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I completed on my home on 10 January and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Capel Curig expressed confidence that it would be formalised inside ten days. Are properties in Capel Curig particularly slow to register?
As far as conveyancing in Capel Curig is concerned, registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can adjust according to the party submitting the application, whether it is in order and whether the Land registry have to notify any 3rd persons or bodies. As of today in the region of 80% of submission are fully dealt with in less than three weeks but some can be subject to protracted delays. Historically registration takes place once the buyer is living at the property therefore 'speed' is not typically an essential issue yet where it is urgent that the the registration takes place urgently then you or your lawyers could contact the land registry and explain the circumstances.
Is it best to appoint a Capel Curig conveyancing solicitor in close proximity to the house I am purchasing? An old friend can perform the conveyancing but they are based 400kilometers drive away.
The primary upside of using a local Capel Curig conveyancing firm is that you can visit the firm to execute documents, hand in your ID and pester them if necessary. They will also have local insight which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and they were impressed that must surpass using an unfamiliar Capel Curig conveyancing lawyer just because they are local.
Can you offer any advice when it comes to appointing a Capel Curig conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for lease extension works (regardless if they are a Capel Curig conveyancing practice) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We suggest that you make enquires with several firms including non Capel Curig conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be of use:
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If the firm is not ALEP accredited then why not?
I invested in buying a 2 bed flat in Capel Curig, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Equivalent properties in Capel Curig with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease ends on 21st October 2093
With just 67 years remaining on your lease the likely cost is going to be between £10,500 and £12,000 as well as professional fees.
The figure that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
I was told by my lender that their panel conveyancers work on no sale no fee basis for conveyancing in Capel Curig. Our purchase aborted nevertheless the lawyers have requested search fees! They are claiming that the fees are independent!
Capel Curig conveyancing search costs are separate expenses not solicitors fees as these are payable to a third party.