I am in the throes of changing my current homeowner loan to a BTL Nationwide Building Society mortgage. I was told by my financial advisor that I need a solicitor as part of the process. I had a chat my previous Llanddulas conveyancing firm who dealt with the legals when I previously bought the premises. The costs illustration supplied of £470 is an eye-watering amount to do this as its a refinance than a sale or purchase.
The quote is slightly on the high side. If you shop around you may be able to shave off some of the expense by as much as £125. That being said, providing that you were satisfied with the legal work the firm provided you maylive to regret choosing an an unknown solicitor. Remember to ensure the conveyancer can also act for Nationwide Building Society. Do use our search tool to get a quote a Llanddulas conveyancing firm on the Nationwide Building Society approved list of lawyers, which can often include conveyancing solicitors in Llanddulas.
The Llanddulas conveyancing firm handling our Llanddulas conveyancing has uncovered an inconsistency when comparing the assumptions in the valuation survey and what is revealed within the legal papers for the property. My lawyer informs me that he must ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance right?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I used Arc property Solicitors several years ago for my conveyancing in Llanddulas. I now require my papers but the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Llanddulas of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Llanddulas differ for new build properties?
Most buyers of new build residence in Llanddulas come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because house builders in Llanddulas usually acquire 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 conveyancing solicitors 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 accustomed to new build conveyancing in Llanddulas or who has acted in the same development.
I opted to have a survey carried out on a house in Llanddulas prior to retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some mortgage companies may not issue a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llanddulas. Conveyancing will be smoother if you use a solicitor in Llanddulas especially if they regularly deal with such properties in Llanddulas.