Me and my fiance are purchasing a 1 bedroom flat in Llangammarch Wells with a mortgage. We like our Llangammarch Wells lawyer, however the lender advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Llangammarch Wells lawyer and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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 Llangammarch Wells conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are nearing an exchange on a house in Llangammarch Wells and my mum and dad have sent the ten percent deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my property lawyer needs to disclose this to my mortgage company. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really necessary for this now to delay the deal?
Your solicitor is legally required to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We're in Llangammarch Wells, First time buyers buying with a mortgage (lender is Nationwide , and our lawyer is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I got the keys to my apartment on 6 November and the transaction details are still not registered. Any reason for this? My conveyancing solicitor in Llangammarch Wells advises it would be dealt with in a couple of weeks. Are transfers in Llangammarch Wells uniquely lengthy to register?
As far as conveyancing in Llangammarch Wells is concerned, registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry communicate with any 3rd parties. As of today roughly three quarters of submission are completed in less than three weeks but some can be subject to longer hold-ups. Registration takes place after the buyer is living at the property thus 'speed' is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
Due to the advice of my in-laws I had a survey completed on a property in Llangammarch Wells in advance of appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks will not grant a loan on such a premises.
It varies from the lender to lender. HSBC has different instructions from Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Llangammarch Wells. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Llangammarch Wells to see if the conveyancing costs will increase in light of this.
My plan is to purchase a ground floor maisonette in Llangammarch Wells. Conveyancing solicitor has been waiting for, from the vendor, building insurance paperwork. I was told today I was informed that the seller must send the insurance paperwork for the flat above also. Why does my conveyancing practitioner want to check the insurance for the flat above? Is it strictly required? We have been in hold for the previous fortnight…
It is not impossible in leasehold conveyancing in Llangammarch Wells to find Conveyancing in Llangammarch Wells in a minority of cases reveals that the lease obliges the leasehold owners to insure their individual flats rather than the freeholder insuring the entire building - which is clearly preferable. Do double check with your property lawyer but it would seem that your lawyer is seeking to verify that the entire building is insured. Insuring your residence is no help when it comes to rebuilding after a fire if the 1st floor cannot be reconstructed due to lack of insurance cover.