Me and my partner are soon to complete buying a property in Corwen but as a result of damage from the recent storms I have was able negotiate compensation from the seller in the sum of £3k in the form of a reduction in the price. I had intended this to be dealt with as part of amending the contract however TSB are not allowing this. Should they have been notified?
Your conveyancer being on a TSB conveyancing panel is obliged to disclose to TSB of any amendments to the purchase price. If you were to refuse your solicitor to disclose the reduction to TSB then they would have to discontinue acting for you. In addition, TSB and you would have to appoint a new property lawyer for your conveyancing in Corwen.
I'm the only recipient of my late mum's estate and I have everything in my name alone, including the house in Corwen. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership may be treated the same way as if I'd bought the house in June. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view banks take of it, depend on the bank as this requirement principally exists to pick up on the purchase and immediately sell or the quick reselling of properties.
When it comes to mortgage companies such as Leeds Building Society, do Corwen conveyancers face a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
About to purchase house in Corwen. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Corwen lawyer is on the Skipton conveyancing panel.
I have todaybecome aware that Arc property Solicitors have been shut down. They carried out my conveyancing in Corwen for a purchase of a freehold house 18 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Corwen conveyancing specialists.
Due to the input of my in-laws I had a survey completed on a house in Corwen prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some banks will not give a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Corwen. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Corwen to see if the conveyancing costs will increase in light of this.
I have recently realised that I have 68 years unexpired on my flat in Corwen. I now wish to extend my lease but my landlord is can not be found. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to locate the landlord. For most situations a specialist would be useful to try and locate and prepare a report which can be accepted by the court as proof that the freeholder can not be located. It is wise to seek advice from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Corwen.
I bought a leasehold flat in Corwen, conveyancing formalities finalised October 2003. Can you work out an approximate cost of a lease extension? Equivalent flats in Corwen with over 90 years remaining are worth £179,000. The ground rent is £65 invoiced every year. The lease terminates on 21st October 2082
With 57 years remaining on your lease we estimate the premium for your lease extension to span between £26,600 and £30,800 plus plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Neither should you move forward based on this information before getting professional advice.