I am nearing an exchange on a house in Penrhyn Bay and my mum and dad have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has been received from someone other than me my lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I informed the bank regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?

Your property lawyer is legally required to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.

At what point does exchange of contracts occur in domestic conveyancing in Penrhyn Bay and do I need to be at the conveyancers branch?

If you are round the corner to one of the conveyancing solicitors in Penrhyn Bay you are invited in to sign the paperwork. However, the law practices we work with supply countrywide coverage for conveyancing and give just as detailed and professional a job for you when communicating with you digitally. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the conveyancer to exchange contracts when the time is right, 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 an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Penrhyn Bay)to be in the office available at the end of the phone to exchange contracts.

Due to the input of my in-laws I had a survey completed on a property in Penrhyn Bay before retaining conveyancers. I have been told that there is a flying freehold element to the house. The surveyor advised that some lenders may refuse to issue a loan on such a home.

It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penrhyn Bay. Conveyancing will be smoother if you use a solicitor in Penrhyn Bay especially if they are accustomed to such properties in Penrhyn Bay.

My uncle has suggested that I use his conveyancing solicitors in Penrhyn Bay. Should I choose my own solicitor?

Much as we are happy to recommend a Penrhyn Bay conveyancing lawyer the best way to select a conveyancing lawyer is to get guidance from friends or relatives who have actually used the firm that you are contemplating using.

I only have 72 years unexpired on my lease in Penrhyn Bay. I now want to get lease extension but my freeholder is missing. What options are available to me?

On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent would be useful to try and locate and to produce a report which can be accepted by the court as evidence that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s absence and the vesting order request to the County Court covering Penrhyn Bay.

Penrhyn Bay Conveyancing for Leasehold Flats - Sample of Queries Prior to buying

It is important to be aware if window replacement or some other major work is due in the near future to be shared by the leasehold owners and may well materially increase the the maintenance charges or necessitate a specific invoice. On the whole the cost for major works tend not to be included within service charges, albeit that some managing agents in Penrhyn Bay obliged leaseholders to contribute towards a sinking fund created for the specific intention of building a fund for major repairs or maintenance.