Having sold my house in Tywyn last March yet the purchaser is telephoning every few hours to moan that his conveyancer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your sale your solicitor is committed to send the transfer deeds and all additional paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer must also send confirmation that the legal charge in favour of the lender has been paid off to the buyers conveyancers. There is unlikely to be post completion formalities peculiar conveyancing in Tywyn.
I have been told by my solicitor that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Tywyn?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and The Mortgage Works. Conveyancing lawyers as opposed to members of the public take out such policies.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Tywyn building society branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Tywyn conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The lawyer must follow the Council of Mortgage Lenders’ Handbook section two conditions for your 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have instructed a Tywyn lawyer having made sure that they are on the Lloyds conveyancing panel. Does my lawyer arrange the survey of the property?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Tywyn postcode. As you are getting a mortgage with Lloyds, you could contact them to see if they have a list of approved surveyors in Tywyn.
I have a semi-detached Georgian property in Tywyn. Conveyancing lawyer acted for me and Yorkshire Building Society. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tywyn 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 mortgage companies. You can also enquire as to the situation with the conveyancing solicitor who conducted the purchase.
I'm buying a new build house in Tywyn with a loan from TSB. The builders refused to move on the price so I negotiated £7000 of additionals instead. The house builders rep suggested that I not reveal to my lawyer about the side-deal as it may impact my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I decided to have a survey done on a house in Tywyn ahead of appointing lawyers. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders will not grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tywyn. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tywyn to see if the conveyancing will be more expensive.
I am downsizing from my home. My previous lawyers closed down. I am in need of a recommendation of a conveyancing firm. I happen to live in Tywyn if that affects matters.
Do use our search tool to help you choose a solicitor for your conveyancing in Tywyn. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.