My fiancee and I are acquiring our first property. Our property lawyer has contact usto see if we wish to order extra conveyancing searches. As novices we in the dark as to what's appropriate for conveyancing in Porthmadog
The type of Porthmadog conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your knowledge of the area and risks, your general attitude to risk. What is important is that you adequately appreciate what information the searches could provide. Then you can decide if you consider that you need that search. If unsure, ask the conveyancer to provide guidance.
Completed the sale of my flat in Porthmadog last January but the buyer keeps e-mailing me to moan that his lawyer needs to hear from mylawyer. What should have happened now that I have sold?
Following your sale your solicitor is committed to deliver the transfer documentation and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your solicitor must also send confirmation that the mortgage has been repaid to the purchasers conveyancers. There is unlikely to be post completion tasks unique to conveyancing in Porthmadog.
Various online forums that I have come across warn that are the main reason for stalling in Porthmadog conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Porthmadog.
My wife and I purchased a renovated Georgian property in Porthmadog. Conveyancing solicitor represented me and Godiva Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the matching property. If a house is not a freehold shouldn't I have been informed?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Porthmadog and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing solicitor who carried out the work.
I am looking for a flat up to £235,500 and found one close by in Porthmadog I like with open areas and station in the vicinity, the downside is that it only has 49 remaining years left on the lease. I can't really find anything else in Porthmadog suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a home loan the remaining unexpired lease term may be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you may request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this.
I was told by my mortgage company that their approved solicitors work on no sale no charge basis for conveyancing in Porthmadog. Our purchase did not proceed yet the solicitors have requested search fees! They say the fees are seperate!
in promising "no sale no fee" Porthmadog conveyancing firms are writing off their charges for any work carried out. We should point out that this does not constitute an insurance scheme. Disbursements aren’t covered – where the conveyancer have to pay money out to other people, for example Porthmadog local search fees