My wife and I are purchasing a 3 bedroom apartment in Llansamlet with a mortgage. We like our Llansamlet lawyer, but the bank says he's not on their "panel". It appears that we have no option but to select one of the mortgage company panel solicitors or continue with our Llansamlet lawyer as well as pay for one of their panel ones to represent them. This feels 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 bank’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. A further alternative is for your Llansamlet conveyancing solicitor to apply to be on the conveyancing panel.
It is not clear whether my bank requires a lease extension. I have called into my local Llansamlet bank branch on a couple of occasions and was informed it wasn't an issue and they would lend. My Llansamlet conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their published requirements. Who do I believe?
The conveyancing practitioner has to follow the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After much negotiation I have agreed a price on an apartment in Llansamlet. My mortgage broker suggested a lawyer. I paid an upfront payment of £200. Not long after, the conveyancing practitioner contacted me embarrassingly acknowledging that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
At last I have had an offer on an apartment in Llansamlet agreed to, but there is a chain. The sellers have placed an offer on a property, however it’s not been accepted yet, and have viewings of other flats in the pipeline. I have selected a nearby conveyancing solicitor in Llansamlet. What should be my next step? At what stage do I apply for the mortgage with Coventry BS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then valuation, Llansamlet conveyancing search fees, etc). The first course of action is to check that your conveyancing practitioner is on the Coventry BS conveyancing panel. As to the next steps this very much depends on the circumstances of your case, desire for this property and on the state of the market. In a rising market the majority of purchasers will apply for a home loan with Coventry BS and arrange for the valuation and only if it comes back ok would they ask their solicitor to move forward with the conveyancing in Llansamlet.
I used Wolstenholmes several years ago for my conveyancing in Llansamlet. Now, I need the files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Llansamlet of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking for a leasehold apartment up to £235,500 and identified one close by in Llansamlet I like with amenity areas and transport links in the vicinity, however it only has 51 years on the lease. There is not much else in Llansamlet in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
How do I use the search app to choose a conveyancing solicitor in Llansamlet on the approved list for my lender?
First select a bank such as Accord Mortgages Ltd, Bank of Scotland or Clydesdale then choose your location e.g. Llansamlet. Conveyancing firms in Llansamlet and beyond will then be shown.
Me and my husband have agreed a price on a Llansamlet apartment we inherited six years ago in 2011. I have over 15 years conveyancing knowledge and, although retired, wish to carry out the conveyancing. The buyer's lawyer has informed me that their bank will not allow you to do your own conveyancing insisting the funds to be transferred to a solicitor's bank account.
Mortgage requirements to lawyers from all mainstream lenders specify that If the vendor does not have legal representation the borrower's lawyers should check whether the bank needs to be informed so that a decision can be made if they are prepared to progress.