I can't travel far from Snowdonia. Can you please clarify why all Snowdonia solicitors are not on all lender panels?
Mortgage companies point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It led to banks and building societies pruning less reputable firms off their books of approved solicitors .
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Snowdonia. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this possible?
If you intend to re-mortgage then RBS will insist on your using a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
Are there restrictive covenants that are commonly picked up during conveyancing in Snowdonia?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Snowdonia. 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…’
What does commercial conveyancing in Snowdonia cover?
Non domestic conveyancing in Snowdonia covers a broad array of guidance, offered by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
In searching the world wide web for the term conveyancing in Snowdonia it brings up numerous property lawyerslocally. How do I determine which is the right solicitor for me?
The best method of choosing the right conveyancer is via trusted testimonial, so seek the counsel of colleagues and relatives who have acquired a property in Snowdonia or the respected estate agent or financial adviser. Charges for conveyancing in Snowdonia vary, so it's sensible to secure a minimum of three costs illustrations from varying types of conveyancers. Make sure that you clarify that the fees are fixed.
I am just shy of a 10% deposit on my flat purchase in Snowdonia , but I am anxious exchange. Do I have options?
One option is to try and agree a lower deposit. Most sellers will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last second