What is the first thing I need to know regarding purchase conveyancing in Penmaenmawr?
Not many law firms shout this from the rooftops but conveyancing in Penmaenmawr and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is plenty of opportunity for friction between you and others involved in the ownership transfer. For example, the seller, selling agent and on occasion your mortgage company. Choosing a law firm for your conveyancing in Penmaenmawr is a critical decision as your conveyancer is your adviser, and is the SOLE person in the transaction whose responsibility is to protect your legal interests and to protect you.
On occasion a potential adversary will try and persuade you that you should follow their advice. As an example, the property agent may claim to be helping by claiming that your solicitor is slow. Or your mortgage broker may tell you to do something that is against your conveyancers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
How does conveyancing in Penmaenmawr differ for new build properties?
Most buyers of new build premises in Penmaenmawr approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Penmaenmawr tend to 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 used to new build conveyancing in Penmaenmawr or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Penmaenmawr is the location of the property. Is there any advice you can give?
Flying freeholds in Penmaenmawr are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Penmaenmawr you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penmaenmawr may ascertain 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 property.
I'm refinancing my existing house to a BTL mortgage with Virgin Money and intend to use the remaining equity towards further property. The location we are interested in is Penmaenmawr. Will your lawyers be able to act for both sets of banks and tie in the transactions?
Make use of our comparison tool on this site to ensure that the conveyancers are on the appropriate lender panels. On the basis that they are the conveyancer should be able to tie up the two conveyancing matters but you should have a chat with you solicitor and make clear your desired outcome and needs.
My brother has suggested that I instruct his conveyancing solicitors in Penmaenmawr. Should I choose my own conveyancer?
No doubt it’s preferable to choose a conveyancing practitioner is to get feedback from friends or family who have actually experience in using the solicitor you're considering.