I am selling my house in Pontarddulais and the EA has just text me to warn that the buyers are changing their law firm. The excuse is that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a major mortgage company only deal with certain law firms rather the firm that they want to choose to handle their conveyancing in Pontarddulais ?
Banks have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
Having sold my house in Pontarddulais last September but our buyer keeps e-mailing me to moan that her solicitor is waiting to hear from mysolicitor. What should my lawyer have done now that I have sold?
Following your disposal your solicitor should send the transfer documentation and all additional paperwork to the purchaser's conveyancer. Where relevant, your lawyer should also send confirmation that the home loan has been discharged to the purchasers solicitors. There is unlikely to be post completion requirements specific conveyancing in Pontarddulais.
We had chosen solicitors located in Pontarddulais on the Virgin Money solicitor panel. They are now charging me a further fee for dealing with the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your solicitor is entitled to levy a fee for this. The charge is not set by Virgin Money but by your Pontarddulais property lawyer. Numerous firms on the Virgin Money panel will quote an ‘acting for lender’ fee and others do not.
My wife and I are spending time viewing flats in Pontarddulais and I am now considering a potential offer. Is it best to have a conveyancer on ‘stand by’? I intend to finance via a home loan with Yorkshire BS.
It would be wise to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are taking out a mortgage with Yorkshire BS, make sure you remember to check that your lawyer is on the Yorkshire BS conveyancing panel.
I am currently in the process of buying my council flat in Pontarddulais. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
What can a local search inform me concerning the property my wife and I buying in Pontarddulais?
Pontarddulais conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations such as Onsearch The local search plays an important part in many a Pontarddulais conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Pontarddulais is the location of the property. Can you offer any guidance?
Flying freeholds in Pontarddulais are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Pontarddulais you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontarddulais 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 residence.
Do you have any top tips for leasehold conveyancing in Pontarddulais from the point of view of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Pontarddulais can be avoided where you get in touch lawyers the minute your agents start advertising the property and ask them to collate the leasehold documentation needed by the buyers’ representatives. If you have had any disputes with your landlord or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be concerned about purchasing a flat where there is an ongoing dispute. You will have to accept that you will have to pay any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than ongoing. If you have carried out any alterations to the premises would they have required Landlord’s permission? In particular have you installed wooden flooring? Pontarddulais leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Should you dont have the approvals in place you should not contact the landlord without contacting your solicitor in the first instance. The majority of freeholders or Management Companies in Pontarddulais levy fees for supplying management packs for a leasehold premises. You or your lawyers should enquire as to the actual amount of the charges. The management information sought on or before finding a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most frequent cause of delay in leasehold conveyancing in Pontarddulais.
Pontarddulais Leasehold Conveyancing - Sample of Questions you should consider Prior to buying
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Is there a share of the freehold? For most Pontarddulais leaseholds the outlay for major works tend not to be wrapped into the service charges, although a few managing agents in Pontarddulais ask tenants to pay into a reserve fund created for the specific purpose of building a fund for larger repairs or maintenance.