We were just about to sign contracts for a garden flat in Burry Port. We encountered a snag. Our loan offer with Virgin Money expires on 23/3/2026 but the vendors are insisting on a completion date of 25/3/2026. Is it possible to extend the loan offer?
The best person to deal with your question is your lawyer who will hopefully calculate whether he or she is should be discussing with the lender, owner’s conveyancers, estate agents or possibly all parties given the circumstances your house move to date.
In what way does my ID and proof of funds have anything to do with my conveyancing in Burry Port? What am I being asked for?
Burry Port conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under money laundering regulations to verify the ID of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to provide two forms of certified ID; proof of ID (typically a Passport or Driving Licence) and proof of address (typically a Bank Statement no older than three months).
Evidence of the origin of funds is also necessary in accordance with the money laundering statutes as solicitors are duty bound to ensure that the monies you are utilising to purchase a property (whether it be the deposit for exchange or the full purchase price if you are buying mortgage free) has originated from an acceptable source (such as an inheritance) rather than the proceeds of criminal activity.
Please explain the implications if my solicitor is removed from the UBS Conveyancing panel ahead of completing my conveyancing in Burry Port?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am buying a house and the conveyancer has raised the issue of Chancel Repair to which the house may be obligated to pay given it’s proximity to the area of such a church. She has suggested insurance. Is this really required for conveyancing in Burry Port
Unless a prior purchase of the property took place after 12 October 2013 you could expect conveyancing practitioners conducting conveyancing in Burry Port to continue to recommend a chancel search and or chancel repair liability insurance.
Despite weeks of looking the Title Certificate and documents to my home are lost. The solicitors who conducted the conveyancing in Burry Port 4 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title deeds to establish that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Burry Port is the location of the property. What do you suggest?
Flying freeholds in Burry Port are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burry Port you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burry Port may decide 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 premises.