I require conveyancing for a flat in a relatively new development (five years old) in Tywyn. 95% of the flats are already disposed of. Is it really necessary to order neighbourhood searches as part of conveyancing in Tywyn?
You would be taking a significant risk in refusing to carrying out Tywyn conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would absolutely advise in no uncertain terms that your conveyancer conducts them. If timings and cost are primary concerns you should consider with your lawyer about the options such as contingency insurance available to you
I am the only beneficiary of my late father’s will and I have everything in my name now, including the my former home in Tywyn. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the house. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in July. Do I have to wait half a year to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view lenders take of it, depend on the bank as this clause is chiefly there to identify the purchase and immediately sell or the quick reselling of property.
When it comes to mortgage companies such as Bank of Ireland, do Tywyn solicitors face an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
We are getting a further advance on our mortgage from HSBC as we intend to carry out alterations to our home in Tywyn. Are we obliged to appoint a local Tywyn solicitor on the HSBC conveyancing panel to deal with the paperwork?
HSBC don't usually require firms on their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC panel.
How does conveyancing in Tywyn differ for newly converted properties?
Most buyers of new build residence in Tywyn approach us having been asked by the seller to sign contracts and commit to the purchase even before the house is ready to move into. This is because house builders in Tywyn tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Tywyn or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and found one close by in Tywyn I like with amenity areas and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. I can't really find anything else in Tywyn suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan the remaining unexpired lease term may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.
As co-executor for the will of my grandmother I am disposing of a property in Cardiff but reside in Tywyn. My solicitor (who is 200 miles awayhas requested that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing lawyer in Tywyn who can attest this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are located in Tywyn
My solicitors in Tywyn have advised me that no longer have my conveyancing file. At the time of my purchase I took out a mortgage with the bank. Is it case that being on the lender conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.