My wife and I are nearing an exchange on a flat in Burry Port and my parents have sent the ten percent deposit to my conveyancer. I am now advised that as the deposit has not come from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
The solicitor is legally required to check with lender to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
We are looking to buy a flat and need a conveyancing solicitor in Burry Port who is on the UBS solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for UBS . We don't recommend any particular firms conducting conveyancing in Burry Port.
I am being advised by my lawyer that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Burry Port?
The appropriate level of breach of easement indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Chelsea Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
The formalities of my purchase has taken place for my property in Burry Port. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
It is not clear whether my lender requires a lease extension. I have called into my local Burry Port building society branch on a couple of occasions and was told it wasn't a problem and they would lend. My Burry Port conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their published requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender panel, they must follow the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I purchased a renovated Victorian property in Burry Port. Conveyancing solicitor represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the exact same property. Is it worth asking HSBC Bank to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burry Port and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who completed the work.
I am buying a new build flat in Burry Port. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Burry Port
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Please confirm the Lease plans are architect prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
My wife and I have just had an offer accepted on our first house in Burry Port, and are now looking to get solicitors appointed. We have utilised the different rating tools and the results are from all across the country. Is it essential to have a Burry Port conveyancing practitioner local to the prospective house? We are willing to do everything electronically, but I guess at some point we may be required to physically go into the conveyancing practitioner's office to sign contracts?
The property lawyer does not need to be in Burry Port, but opting for local means that you can go in if required, by way of example, if a signature is needed urgently. Furthermore, a Burry Port solicitor have established relationships with local agents and (if the vendor has instructed a local solicitor) with them, which should help keep things moving faster.