My stepmother advised me that in purchasing a property in Criccieth there may be a number of restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Criccieth which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Criccieth should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can you help - my lawyer says that lack of right of way insurance is necessary on my purchase. What is the level of cover for Criccieth conveyancing?
The right level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between Lloyds TSB Bank and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
When it comes to lenders such as RBS, do Criccieth lawyers incur a fee to be on the conveyancing panel?
We are unaware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
Are there restrictive covenants that are commonly identified as part of conveyancing in Criccieth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Criccieth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been on the look out for a flat up to £195,000 and identified one round the corner in Criccieth I like with amenity areas and transport links nearby, however it only has 61 years on the lease. I can't really find anything else in Criccieth in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan that many years will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this matter.
My husband and I are FTB’s - had an offer accepted, but the estate agent has warned us that the seller will only proceed if we instruct their recommended solicitors as they need an ‘expedited deal’. We would rather use a family conveyancer used to conveyancing in Criccieth
It is unlikely the vendors are behind this. Should the vendor desire ‘a quick sale', taking such a hostile approach to a serious purchaser is not the way to achieve this. Contact the sellers directly and make the point that (a)you are motivated buyers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you intend to use your preferred Criccieth conveyancing firm - not the ones that will provide their negotiator at the agency a referral fee or achieve conveyancing thresholds set by senior management.
I have just appointed agents to market my garden flat in Criccieth. Conveyancing is yet to be initiated, however I have recently had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
It best that you discharge the maintenance contribution as normal as all rents and maintenance invoices should be apportioned as part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Criccieth - Sample of Questions you should ask Prior to buying
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Are there any major works in the near future that could add a premium to the maintenance costs? What restrictions are there in the Criccieth Lease? Please note that where the lease has fewer than 80 years it will affect the marketability of the flat. Check with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will probably require a lease extension sooner rather than later and it is worth discovering what this would cost. For most Cricciethlease extensions you will need to own the property for a couple of years in order to be eligible to exercise a lease extension.
My wife and I about to exchange buying a house in Criccieth but as a result of wreckage from the recent storms I have negotiated reparation from the current proprietors of £3k by way of a deduction in the price. This was going to be addressed as part of the conveyancing process yet my bank will not permit this. Why were they notified?
Any conveyancing practitioner that is on a lender conveyancing panel is required to disclose to the lender of any changes to the sale figure. If you did not allow your lawyer to notify the price change to your lender then they would need to disinstructing themselves from representing you and the bank.