What happens if my solicitor is suspended from the Aldermore Conveyancing panel ahead of completing my conveyancing in Towyn?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.

My wife and I are in the throws of viewing flats in Towyn and I am now considering a potential offer. Should I already have a property lawyer in place at this stage? I will be getting a home loan with Skipton.

It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are getting a mortgage with Skipton, make sure you remember to check that your lawyer is on the Skipton conveyancing panel.

I have paid off my mortgage with TSB. I assume I don't need a Towyn lawyer on the TSB panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where TSB has sent the Land Registry the discharge electronically, and
3. TSB has instructed the Land Registry to do so

RBS have agreed my mortgage in principle, my offer on a apartment in Towyn has been agreed to, now what?

Your estate agent will wish to be advised as to your conveyancer's details (be sure the solicitors are on the bank’s approved list). Call up RBS or your financial adviser and complete any relevant documentation. RBS will appoint a valuer who will get in touch with the selling agent or vendor to book an appointment. Once conducted (assuming no problems) it takes approximately a week to receive the mortgage offer. RBS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Towyn.

How does conveyancing in Towyn differ for newly converted properties?

Most buyers of new build or newly converted property in Towyn contact us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is constructed. This is because new home sellers in Towyn usually purchase the land, 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 property lawyers 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 Towyn or who has acted in the same development.

I have been on the look out for a ground for flat up to £245,000 and identified one close by in Towyn I like with open areas and station nearby, the downside is that it's only got 49 years on the lease. There is not much else in Towyn for this price, so just wondered if I would be making a grave error acquiring a short lease?

Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.

I want to sublet my leasehold flat in Towyn. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?

Some leases for properties in Towyn do contain a provision to say that subletting is only permitted with prior consent from the landlord. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.

Towyn Leasehold Conveyancing - Examples of Queries before Purchasing

You should want to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the tidiness of the common parts. Enquire of prospective neighbours what they think of them. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money. Who takes responsibility for maintaining and repairing the building?