We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel solicitor as I would prefer to appoint a specialised conveyancing solicitor in Betws Y Coed?
You should check but the the probability is that give you one of their panel lawyers should you want the "fee-free" offer. Speak to the lender to check if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case you could put that amount towards your preferred conveyancing solicitor in Betws Y Coed.
How does conveyancing in Betws Y Coed differ for newly converted properties?
Most buyers of new build premises in Betws Y Coed approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the premises is constructed. This is because developers in Betws Y Coed tend to buy 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 conveyancers 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 used to new build conveyancing in Betws Y Coed or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Betws Y Coed is the location of the property. Can you offer any assistance?
Flying freeholds in Betws Y Coed are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Betws Y Coed you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Betws Y Coed may ascertain 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.
My husband and I are first time buyers - agreed a price, but the property agent has warned us that the owners will only proceed if we use their recommended lawyers as they are insisting on a ‘quick sale’. My instinct tells me that we should use a family conveyancer who is accustomed to conveyancing in Betws Y Coed
It is unlikely the owners are driving this. Should the owner desire ‘a quick sale', taking such a hostile approach to a serious purchaser is counter productive. Speak to the owners direct and explain that (a)you are keen to buy (b)you are ready to progress, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to appoint your own,trusted Betws Y Coed conveyancing lawyers - not the ones that will give the negotiator at the agency a introducer fee or meet his conveyancing thresholds pre-set by corporate headquarters.
Much to my surprise my solicitor in Betws Y Coed has informed me that he requires identification documents asserting that this forms part of his requirements as a solicitor on the bank Conveyancing panel. This is news to me - can I refuse?
Anti-terror and anti-money-laundering rules require Betws Y Coed conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Client Care letter that you need to sign will no doubt confirm this. Your lawyer is right that the mortgage company also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements