When will exchange of contracts happen for domestic conveyancing in Corwen and am I required to attend the lawyers office?

If you are local to one of the conveyancing solicitors in Corwen you are invited in to sign the paperwork. However, the law practices we work with supply a national conveyancing service and give as equally comprehensive and professional a job for you when dealing with you digitally. The executing of the purchase agreement is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to exchange contracts at the suitable time, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Corwen)to be in the office at the appropriate time.

I'm purchasing my first flat in Corwen with a mortgage from Platform Home Loans Ltd. The builders would not budge the price so I negotiated £7000 of fixtures and fittings instead. The property agent told me not disclose to my lawyer about this extras as it may affect my mortgage with the bank. Should I keep quiet?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, chain free conveyancing. Corwen is where the house is located. Can you shed any light on this issue?

Flying freeholds in Corwen are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Corwen 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 Corwen may determine 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 premises.

I've recently bought a leasehold property in Corwen. Do I have any liability for service charges for periods before completion of my purchase?

In a situation where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

I inherited a 2 bed flat in Corwen, conveyancing was carried out in 1996. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Corwen with over 90 years remaining are worth £206,000. The average or mid-range amount of ground rent is £45 invoiced annually. The lease comes to an end on 21st October 2091

With only 66 years remaining on your lease the likely cost is going to be between £11,400 and £13,200 plus legals.

The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.

My lawyers in Corwen have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the lender. Is it case that being on the lender conveyancing panel they need to have retained the file for a number of years?

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 bank Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.