We are a couple about to sign contracts for a property in Glan Conwy. We have hit a snag. The loan offer with Lloyds TSB Bank expires on 1/8/2025 but the vendors are insisting on a completion date of 5/8/2025. Is it possible to extend the mortgage expiry date?
The best person to deal with your concern is your conveyancer who will assess whether they better off negotiating with the lender, seller’s representatives, estate agents or possibly all three taking into account the history of your conveyancing to date.
I am the registered owner of a freehold property in Glan Conwy but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Glan Conwy and has limited impact for conveyancing in Glan Conwy but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I recently had an offer accepted on an apartment in Glan Conwy. My financial adviser recommended their conveyancers. I paid an advanced payment of £225. Soon after, the conveyancer called me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Planning on purchasing a maisonette in Glan Conwy. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Glan Conwy lawyer is on the Bank of Ireland conveyancing panel.
I had an offer accepted on an apartment in Glan Conwy on 14/4/2025, valuation was booked 4 days later, received a clean bill of health. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Nationwide and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nationwide conveyancing panel. Are Nationwide entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
A friend recommended that if I am buying in Glan Conwy I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Glan Conwy conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Glan Conwy around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Glan Conwy Education with maps and statistics, Local Amenities and other useful information concerning Glan Conwy.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Glan Conwy is where the house is located. What do you suggest?
Flying freeholds in Glan Conwy are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Glan Conwy you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Glan Conwy may ascertain 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.
In relation to leasehold conveyancing in Glan Conwy what are the most common lease defects?
Leasehold conveyancing in Glan Conwy is not unique. All leases are individual and legal mistakes in the legal wording can sometimes mean that certain provisions are not included. For example, if your lease is missing any of the following, it could be defective:
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A provision to repair to or maintain parts of the premises
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, The Mortgage Works, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to provide security, forcing the buyer to pull out.
Leasehold Conveyancing in Glan Conwy - Sample of Questions you should ask before Purchasing
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Are any of leasehold owners in arrears of their service charge liability? Many Glan Conwy leasehold properties will be liable to pay a service charge for the upkeep of the building set on behalf of the landlord. Should you purchase the flat you will have to pay this liability, normally quarterly during the year. This may be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large common grounds. There will also be a rentcharge for you to pay yearly, ordinarily this is not a large amount, say around £50-£100 but you should to check it because occasionally it can be surprisingly expensive. You should be aware if it is no more than eighty years it will impact the marketability of the apartment. Check with your bank that they are willing to lend given the lease term. Leases with fewer than 80 years remaining means that you will probably require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will need to own the residence for two years in order to be entitled to extend the lease.