Recently been in touch with my conveyancing solicitor in Menai Bridge who completed the legal work 18 months ago and wanted a conveyancing quote based on the same type of house move (a leasehold property and a freehold premises) of almost identical values with a mortgage from Aldermore. It looks as though am now being quoted double. Am I right to be tempted to shop around for an alternative firm of conveyancing solicitor?
The estimate does seem a tad steep. Where you are willing to invest time scrutinising prices you may be able to trim some of the expense by perhaps £100 plus VAT. On the other hand, assuming were happy with the service the firm offered you couldlive to regret choosing an an untested conveyancer. Don't forget to ensure the solicitor can represent Aldermore. You can use our search tool to get a quote a Menai Bridge conveyancing firm on the Aldermore approved list of lawyers, which can often include conveyancing solicitors in Menai Bridge.
My wife and I are acquiring a new build flat in Menai Bridge and my lawyer is informing me that she is duty bound to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to exchange and my preference is not to delay the conveyancing. 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 bank panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is there a search tool that I can use to investigate if the solicitor handling my conveyancing in Menai Bridge is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Santander thus paying £192.00 in supplemental conveyancing charges.
Feel free to make the most of the search tool on this site. Pick the mortgage company and type ‘Menai Bridge’ or your preferred area and you will be presented with a number of lawyer offices in Menai Bridge or by proximity to you.
The mortgage over my property is with UBS for my property in Menai Bridge. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. You need not do this via a UBS conveyancing panel solicitor.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Menai Bridge bank branch on numerous occasions and was informed it wasn't a problem and they would lend. My Menai Bridge conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their published requirements. Who do I believe?
As long as the conveyancer is on the mortgage company approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
At last I have had an offer on a flat in Menai Bridge agreed to, the owners do however have a connected purchase. The owners have placed an offer on a flat, however it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have selected a high street conveyancing solicitor in Menai Bridge. What should be my next step? At what point should I apply for the mortgage with Clydesdale?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx £1k, then survey, Menai Bridge conveyancing search fees, etc). First, you should check that your property lawyer is on the Clydesdale approved list. As to the next stages this very much dictated by the uniqueness of your transaction, desire for this property and on the state of the market. During a buoyant market some home buyers will apply for the mortgage with Clydesdale and pay for the valuation and only if it comes back ok would they ask their conveyancer to press on with searches.
How can the Landlord & Tenant Act 1954 impact my commercial premises in Menai Bridge and how can your lawyers assist?
The particular law that you refer to gives protection to business tenants, granting the right to apply to court for a renewal tenancy and remain in occupation at the end of an expired lease. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing practices who use the act for protection and assist with commercial conveyancing in Menai Bridge
I wish to sublet my leasehold flat in Menai Bridge. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A lease governs relations between the freeholder and you the flat owner; in particular, it will set out if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no expres ban or restriction, subletting is allowed. The majority of leases in Menai Bridge do not prevent subletting altogether – such a provision would undoubtedly devalue the property. In most cases there is a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the tenancy agreement.
I own a 1st floor flat in Menai Bridge, conveyancing having been completed half a dozen years ago. How much will my lease extension cost? Comparable properties in Menai Bridge with an extended lease are worth £216,000. The ground rent is £50 invoiced annually. The lease terminates on 21st October 2094
With just 69 years unexpired the likely cost is going to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to supply a more accurate figure in the absence of comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.