I am in the throes of switching my existing standard home loan to a BTL National Westminster Bank mortgage. I have been informed by my broker that I require a solicitor as part of the process. I spoke to my former Trefriw conveyancing practitioner who who conducted the conveyancing when I originally acquired the property. The fee calculation provided of £550 has taken me by surprise as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The quote is fractionally on the high side. If you you were to look around you may be able to shave off some of the expense by as much as a hundred pounds. On the other hand, providing that you were pleased with the service the firm offered you mightlive to rue choosing an a cheaper conveyancer. Remember to check the solicitor can represent National Westminster Bank. You can make use of our search tool to find a Trefriw conveyancing firm on the National Westminster Bank conveyancing panel, which can often include conveyancing solicitors in Trefriw.
My conveyancer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Trefriw. The other side have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our lawyer has advised that he must check that the bank is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I happen to be the single beneficiary of my late grandmother’s estate and I have everything in my name alone, including the my former home in Trefriw. Conveyancing formalities meant that the Land Registry date was in August. I plan to dispose of the property. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship could be treated the same way as though I had purchased the property in August. Do I have to wait half a year to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How sensible a view mortgage companies take of it, depend on the lender as this clause chiefly exists to pick up on subsales or the wholesaling and assigning of property.
I am currently in the process of buying my council flat in Trefriw. I have a mortgage agreed with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I have a mortgage with Leeds Building Society for my property in Trefriw. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel solicitor.
I need some expedited conveyancing in Trefriw as I am faced with a deadline to exchange contracts in less than 4 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not obtaining a home loan you have the choice not to do searches although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Trefriw the following are instances of issues that can crop up and adversely impact future saleability: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
I used Wolstenholmes several years past for my conveyancing in Trefriw. I now require my file but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Trefriw of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what should have been a straight forward, no chain conveyancing. Trefriw is the location of the property. Can you offer any advice?
Flying freeholds in Trefriw are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Trefriw you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Trefriw may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.