I am not well enough to travel far from Hirwaun. Is there a reason why all Hirwaun property lawyers are not on all mortgage company panels?
Before the recession most lenders had an attitude to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, banks have since looked to extract more information from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the mortgage companies set.
Having sold my house in Hirwaun last February but our buyer keeps SMS messaging daily to say their solicitor needs to hear from myconveyancer. What are the post completion sale formalities following completion?
After completion of your sale your lawyer is duty bound to send the transfer deeds and all additional paperwork to the buyer’s conveyancer. Depending on the transaction, your conveyancer must also confirm that the home loan has been paid off to the purchasers lawyers. There is unlikely to be post completion tasks unique to conveyancing in Hirwaun.
Our mortgage company has recommended a law firm on their panel based in Hirwaun but I would rather instruct a conveyancing lawyer in Hirwaun or nearer to where I live. Are you able to help?
It is by no means the case that all Hirwaun conveyancing practices are on all banks conveyancing panel. Do make use of our find an approved solicitor tool to identify a Hirwaun conveyancing solicitor on the on the bank panel.
It has been four months since my purchase conveyancing in Hirwaun concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Hirwaun differ for newly converted properties?
Most buyers of new build property in Hirwaun approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Hirwaun usually acquire the site, 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 conveyancing solicitors 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 Hirwaun or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Hirwaun is the location of the property. Can you offer any guidance?
Flying freeholds in Hirwaun are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Hirwaun you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hirwaun 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.