I'm in the process of porting my current residential mortgage to a BTL Aldermore mortgage. I have been informed by my broker that I need a solicitor for this. I got in contact with my past Porthmadog conveyancing firm who acted on my behalf when I previously purchased the premises. The costs illustration supplied of just over five hundred pounds is surprising as its a refinance than a sale or purchase.
The estimate fees seem a little high. Where you are willing to expend time comparing charges you may be able to decrease the fees slightly by as much as £100 plus VAT. On the other hand, if you were satisfied with the conveyancing the firm gave you couldlive to rue choosing an an untested lawyer. Remember to enquire the firm can represent Aldermore. Do use our search tool to find a Porthmadog conveyancing firm on the Aldermore approved list of lawyers, which can often include conveyancing solicitors in Porthmadog.
I have given 8 weeks notice to my existing landlord and have to be out of my let out flat in Porthmadog by 6/8/2025. Conveyancing on my purchase has just started. Is it possible to complete in 5 weeks as I wish to avoid having to move into temporary accommodation?
It is unwise to provide notice for your letting until you have exchanged. Assuming that you have not already done so, update to your lawyer and urge them to they apply pressure on the sellers side, try to get a realistic time scale from them that everyone will work towards
My wife and I are purchasing a house in Porthmadog. It might be a silly question but how we can trust a solicitor? At some point we will need to put funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I'm the only recipient of my late mum's estate and I have everything in my name now, including the my former home in Porthmadog. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be treated the same way as though I had purchased the property in May. Do I have to wait half a year to sell?
The CML handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view lenders take of it, depend on the lender as this clause primarily exists to identify the purchase and immediately sell or the quick reselling of properties.
Is it the case that all Porthmadog solicitor practices on the Santander conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Santander approved list of solicitors they would need to be governed by the SRA. Some mortgage companies do list licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
Will our conveyancer be asking questions concerning flooding as part of the conveyancing in Porthmadog.
Flooding is a growing risk for conveyancers conducting conveyancing in Porthmadog. There are those who buy a property in Porthmadog, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various searches that can be initiated by the purchaser or on a buyer’s behalf which can figure out the risks in Porthmadog. The conventional set of property information forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a usual question of the owner to determine whether the premises has suffered from flooding. In the event that flooding has previously occurred which is not notified by the seller, then a purchaser could commence a claim for damages resulting from an misleading reply. A purchaser’s lawyers may also carry out an enviro search. This will higlight if there is a recorded flood risk. If so, more detailed inquiries should be carried out.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Porthmadog?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Porthmadog. 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'm refinancing my current property to a BTL loan with Skipton Building Society and I will use the rest of the raised equity towards further property. The area we are interested in is Porthmadog. Will your lawyers be able to act for the two lenders and link together the transactions?
Do use our comparison tool on this site to ensure that the lawyers are approved by both banks. On the basis that they are your solicitor will be able to tie up the two conveyancing matters but you should talk with you solicitor and make apparent your expectations and requirements.