Me and my partner are intending to buy a 2 bedroom flat in Gower with a mortgage. We like our Gower conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel firms or retain our Gower conveyancing practitioner as well as pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders 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 Gower conveyancing lawyer to apply to be on the conveyancing panel.
It is a dozen years since I purchased my house in Gower. Conveyancing solicitors have recently been appointed on the sale but I am unable to find my title deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be with the mortgage company or they could be in the possession of the lawyers who handled the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Gower involves registered property but in the rare situation where your home is unregistered it adds to the complexity but is resolvable.
We had appointed conveyancers located in Gower on the Co-operative solicitor panel. They have just billed me a separate sum for handling the Co-operative mortgage. Is this a supplemental conveyancing fee specified by Co-operative?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer can charge a fee for this. The charge is not set by Co-operative but by your Gower property lawyer. Numerous firms on the Co-operative panel will quote an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We are getting the release of further monies on our home loan from Co-operative as we wish to conduct improvements to our property in Gower. Do we need to select a nearby Gower solicitor on the Co-operative conveyancing panel to deal with the paperwork?
Co-operative don't usually instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
Bank of Ireland have agreed my mortgage in principle, my bid on a apartment in Gower has been accepted, what are the next steps?
The estate agent will want to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Contact Bank of Ireland or your financial adviser and finalise any appropriate documentation. Bank of Ireland will sellect a valuer who will get in touch with the estate agent or seller to schedule a time for the valuation to occur. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Bank of Ireland will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Gower.
I am looking for a ground for flat up to £245,000 and identified one close by in Gower I like with open areas and station nearby, the downside is that it's only got 51 years on the lease. I can't really find anything else in Gower suitable, so just wondered if I would be making a mistake purchasing a short lease?
Should you need a home loan the shortness of the lease will be a potential deal breaker. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
My cousin has encouraged me to use his lawyers for conveyancing in Gower. Do I follow his guidance?
There are no two ways about it the best way to select a conveyancing solicitor is to get recommendations from friends or family who have actually experience in using the firm that you are contemplating using.
Is there an average conveyancing fee for conveyancing in Gower?
The average fee in 2014 for conveyancing in Gower was £1,500 excluding Land Tax and Land Registry charges.