I am only a couple days away from an exchange on a property in Llandaff and my parents have sent the exchange deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancing practitioner is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Can you clarify what the consequences are if my solicitor is suspended from the Leeds Building Society Solicitor panel ahead of completing my conveyancing in Llandaff?
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 for a fee.
Due to the guidance of my in-laws I had a survey completed on a house in Llandaff ahead of retaining solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some mortgage companies will not issue a loan on such a home.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Llandaff. Conveyancing may be slightly more expensive based on your lender's requirements.
How difficult is it to switch solicitor as I have to appoint a firm on the Nationwide Building Society conveyancing panel. I had appointed a family conveyancing solicitor in Llandaff five minutes from me but the firm is not accepted by Nationwide Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Llandaff on the Nationwide Building Society panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Llandaff. In making use of the find a conveyancing solicitor tool on this site, you can compare costs for conveyancing solicitors in Llandaff and throughout England and Wales.
We are one month into a residential purchase having been referred to a firm by the estate agent to execute conveyancing in Llandaff. I am am very dissatisfied with the level of service. Can you you assist me in finding new solicitors?
They would need to be very poor in order to consider diss instructing them. Has the mortgage been sent? If so you will need to inform them of the replacement conveyancer and have the loan are re-sent. Your conveyancer needs to be on the mortgage company approved list to avoid supplemental expenses and delays. So that should be your first question of the new conveyancers. The search tool will help you find a bank approved conveyancer for your conveyancing in Llandaff
Myself and my husband have just had an offer accepted on a property and had an appointment on Friday with HSBC for the mortgage. They warned us that when it comes to appointing a lawyer that unless they are on their approved panel of lawyers then we will incur an extra charge of £250+. This is because they would then have to appoint a solicitor to act for them in addition to the one we select on our behalf and we are liable for their invoice. I have asked HSBC to provide me with a list so I can obtain estimates only from their approved conveyancers but was told that I need to check with each individual conveyancer to see if they are on the panel. Is there a list online?
Ask HSBC what their criteria for panel membership is for a conveyancer.Then ask the property lawyer of your choice whether they fit that criteria and have they acted on loans for HSBC historically. If the answer to those is yes, then just clarify this with HSBC. Another option is to make use of our search facility and we should be able to find you a conveyancer in Llandaff on the approved list for HSBC.