My god-son is purchasing a newly built flat in Tywyn with a mortgage from Lloyds. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?

The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Lloyds conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Lloyds conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.

Can you point me to a directory of Bank of Ireland panel solicitors in Tywyn on the Building Society Association’s Website?

Unfortunately not yet. There is no such tool on the CML or Building Society Association websites. Very few mortgage companies make their panel listings open the public on the web. If you are in need of a Tywyn lawyer on the Bank of Ireland please use our tool.

Completion of my remortgage has taken place for my property in Tywyn. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?

Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.

Yorkshire BS have agreed my home loan in principle, my bid on a flat in Tywyn has been agreed to, what happens next?

Your property agent will wish to know who your solicitors are (make sure the solicitors are on the bank’s panel). Call up Yorkshire BS or the broker and finish off any relevant paperwork. Yorkshire BS will sellect a valuer who will get in contact with the selling agent or owners to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Yorkshire BS will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Tywyn.

My relative recommended that if I am buying in Tywyn I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is sometimes quoted for as part of the standard Tywyn conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Tywyn around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Tywyn Education with plans and statistics, Local Amenities and other useful data about Tywyn.

I am on look out for some leasehold conveyancing in Tywyn. Before I get started I want to be sure as to the unexpired term of the lease.

Assuming the lease is recorded at the land registry - and 99.9% are in Tywyn - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Tywyn Leasehold Conveyancing - Sample of Queries before buying

It would be prudent to find out if there are any onerous restrictions in the lease. For instance some leases prohibit pets being allowed in certain buildings in Tywyn. If you love the apartmentin Tywyn but your dog is not allowed to make the move with you then you will be presented with a hard choice. The best form of lease structure is where the freehold interest is owned by the leaseholders. In this scenario the leaseholders enjoy control and notwithstanding that a managing agent is often employed where it is bigger than a house conversion, the managing agent retained by the leaseholders. Please note if it is less than eighty years it will affect the value of the apartment. Check with your bank that they are willing to to proceed given the lease term. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you will be required to have owned the residence for two years in order to be eligible to exercise a lease extension.

When it comes to my conveyancing in Tywyn should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee

(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Tywyn conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancing practitioner's time in submitting the funds this way.