I can't travel far from Glan Conwy. Is there a reason why all Glan Conwy solicitors aren't included on all lender panels?
Mortgage Companies tend to restrict either the type or the number of conveyancing solicitors on their panel. A common example of such criteria being that the practice must have at least two partners. In addition to restricting the structure of firm, some banks for instance HSBC made a decision to restrict the size of their panel they allow to represent them. It is worth noting that building societies have no liability for the quality of conveyancing supplied by any Glan Conwy solicitor on their panel. Increases in mortgage fraud was the primary trigger for the reduction of conveyancing panels from 2008 notwithstanding that there are conflicting views concerning whether solicitors sat at the center of that fraud. Data from the Land Registry exposes that thousands of law organisations only conduct a couple of conveyances annually. Those vindicating conveyancing panel consolidation ask why law firms should have the right to be listed on a bank panel when it is evident that property law is not their speciality?
My fiance and I intend to remortgage our flat in Glan Conwy with Principality. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this form unique to the Principality conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Principality. This is solely used to protect Principality if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Principality had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have todaybecome aware that Arc property Solicitors have closed. They carried out my conveyancing in Glan Conwy for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Glan Conwy conveyancing specialists.
I'm buying a new build house in Glan Conwy with a mortgage from Santander. The sellers refused to budge the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not inform my conveyancer about the deal as it may adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Hoping to buy a property located in Glan Conwy and I am already nervous. I couldn't find anything specific about Glan Conwy. Conveyancing will be needed in due course but do you know about the Glan Conwy area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Glan Conwy. In the meantime here are some basic statistics that we found
What are your top tips when it comes to appointing a Glan Conwy conveyancing firm to carry out our lease extension conveyancing?
When appointing a property lawyer for your lease extension (regardless if they are a Glan Conwy conveyancing practice) it is imperative 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. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be of use:
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What volume of lease extensions have they conducted in Glan Conwy in the last 12 months?
I own a studio flat in Glan Conwy, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Glan Conwy with over 90 years remaining are worth £222,000. The ground rent is £50 charged once a year. The lease runs out on 21st October 2096
With only 70 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward based on this information without first seeking the advice of a professional.