AssumingI were to acquire a straightforward homein Bala for cash and have no survey and no local authority searches how much could I expect to to save on my conveyancing in Bala?
The sole saving you would achieve is the Bala conveyancing searches. A conveyancer is required to do the vast majority of work - money laundering, liaising with your sellers conveyancer, stamp duty return, register the ownership etc. A slight saving might be made by not needing to register a mortgage but it will not be meaningful.
Finally the sale completed on my house in Bala last April yet the purchaser is texting every few hours to say her lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your house sale your conveyancer is obliged to forward the transfer documentation and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your conveyancer should also send confirmation that the legal charge in favour of the lender has been discharged to the purchasers lawyers. There is unlikely to be post completion requirements unique to conveyancing in Bala.
we are a couple who wish to acquire a newbuild apartment in Bala with a loan from TSB.We use our Bala conveyancing solicitor but TSB advised that his firm is not on their approved list of member firms. we are left little option but to use a TSB panel firm or retain our local solicitor and pay for one of their panel ones to act for them. This seems very unfair; Can we not simply insist that TSB use our lawyer?
No, not really. The mortgage offered to you is subject to its various provisions, one of which will be that solicitors needs to be on the TSB solicitor panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for TSB
How does conveyancing in Bala differ for newly converted properties?
Most buyers of new build or newly converted property in Bala contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in Bala usually buy 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 conveyancers 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 Bala or who has acted in the same development.
I decided to have a survey carried out on a property in Bala prior to retaining solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders tend refuse to issue a loan on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bala. Conveyancing will be smoother if you use a solicitor in Bala especially if they are familiar with such properties in Bala.