My wife and I are purchasing a new build duplex in Glan Conwy and my lawyer is informing me that she has to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to exchange and I don't want to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When scouring mumsnet.com for a cheap lawyer in Glan Conwy, many post that I should instruct a CQS assured solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing procedures via the scheme protocol the standard includes many organisations who execute conveyancing in Glan Conwy.
Are there restrictive covenants that are commonly picked up during conveyancing in Glan Conwy?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Glan Conwy. 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…’
Due to the input of my in-laws I had a survey completed on a property in Glan Conwy ahead of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some banks tend not issue a loan on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Glan Conwy. Conveyancing will be smoother if you use a solicitor in Glan Conwy especially if they are familiar with such properties in Glan Conwy.
My husband and I are 14 days into a leasehold purchase having been directed to solicitors by the local agent to handle our conveyancing in Glan Conwy. I am am starting to be frustrated with the quality of service. Can you help me find new solicitors?
They would have to be really poor in order to consider changing them. Has the mortgage offer been generated? In the event that it has you will need to advise them of the replacement solicitor and ensure the offer are re-issued. Your new solicitor ideally should be on the mortgage company panel to avoid added expenses and delays. That should be your first question of the new lawyers. Our find a solicitor tool should assist you in finding a bank approved solicitor for your conveyancing in Glan Conwy
Can you offer any advice when it comes to finding a Glan Conwy conveyancing practice to deal with our lease extension?
If you are instructing a conveyancer for your lease extension (regardless if they are a Glan Conwy conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of work. We advise that you talk with several firms including non Glan Conwy conveyancing practices before you instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be helpful:
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If the firm is not ALEP accredited then what is the reason? How experienced is the practice with lease extension legislation?
I bought a basement flat in Glan Conwy, conveyancing having been completed May 1995. Can you let me have an estimated range of the fair premium for a lease extension? Equivalent properties in Glan Conwy with an extended lease are worth £180,000. The ground rent is £65 invoiced annually. The lease expires on 21st October 2082
You have 58 years unexpired we estimate the premium for your lease extension to span between £22,800 and £26,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns 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.