Are all Tywyn Conveyancing Quality Solicitors on the Aldermore conveyancing panel?
A selection of lenders now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We had selected conveyancing lawyers locally in Tywyn on the Lloyds solicitor panel. They have just invoiced me a further amount for dealing with the Lloyds mortgage. Is this an additional conveyancing fee specified by Lloyds?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. This charge is not set by Lloyds but by your Tywyn conveyancer. Some firms on the Lloyds panel will quote ’dealing with mortgage’ fee and others do not.
I have instructed a Tywyn property lawyer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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. You may wish to consider appointing your own Tywyn surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My wife and I purchased a terraced Edwardian property in Tywyn. Conveyancing practitioner acted for me and Bank of Scotland. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You should review 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 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 sell they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who conducted the work.
I'm buying my first flat in Tywyn with a mortgage from Bank of Ireland. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The property agent told me not to tell my lawyer about this extras as it would impact my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a simple, chain free conveyancing. Tywyn is where the house is located. What do you suggest?
Flying freeholds in Tywyn are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tywyn 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 Tywyn 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 property.
I am using a search engine for the phrase cheap conveyancing in Tywyn it brings up many conveyancersin the vicinity. How do I determine which is the right property lawyer for the sale of my house?
The preferential way of finding a suitable conveyancer is through a trusted referral, so ask friends and family who have bought a property in Tywyn or a respected estate agent or financial adviser. Charges for conveyancing in Tywyn differ, so it's advisable to secure a minimum of four estimates from different solicitors. Dont forget to clarify what costs in the quote includes.
I am just shy of a 10% deposit on my apartment purchase in Tywyn , but I am keen go ahead. What can I do?
One option is to try and accept a lesser deposit. Many property owners will agree to a smaller 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