My husband and I are planning to purchase a home in Sketty and are in fact using a Sketty conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Britannia have this evening contacted us to inform me that they have now hit a problem as our Sketty solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Sketty solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
We are getting closer to an exchange on a flat in Sketty and my mum and dad have sent the exchange deposit to my conveyancer. I am now informed that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The conveyancing practitioner is obliged to check with the bank to make sure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your lender if you agree, failing which, your lawyer must cease to continue acting.
My aunt passed away six months ago and as sole heir and executor I was left the house in Sketty. The house had a relatively small loan remaining of approximately £4500. I want to have the title changed into my name whilst I re-mortgage to Bank of Ireland, pay off the mortgage. Is this possible?
Where you intend to re-mortgage then Bank of Ireland will insist on your using a conveyancer on the Bank of Ireland conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Bank of Ireland conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Bank of Ireland mortgage is registered as a charge at the Land Registry.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Sketty is where the house is located. Can you offer any opinion?
Flying freeholds in Sketty are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sketty you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sketty may determine 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 property.
My wife and I may need to sub-let our Sketty 1st floor flat temporarily due to a career opportunity. We used a Sketty conveyancing practice in 2003 but they have closed and we did not think at the time get any advice as to whether the lease permits subletting. How do we find out?
Notwithstanding that your last Sketty conveyancing lawyer is no longer available you can check your lease to check if it allows you to sublet the property. The rule is that if the lease is non-specific, subletting is permitted. Quite often there is a prerequisite that you must seek permission via your landlord or some other party in advance of subletting. This means you not allowed to sublet without first obtaining permission. The consent must not not be unreasonably turned down. If the lease prohibits you from subletting the property you should ask your landlord for their consent.
Sketty Conveyancing for Leasehold Flats - A selection of Queries before buying
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How many years are left on the lease? Who is in charge of the block? Please inform me if there are any major works anticipated that could increase the maintenance fees?
We are in the midst of a leasehold sale of a flat in Sketty. Conveyancing is fine but we are being charged an extortionate amount by the managing agents. To date we have forked out £250 for a leasehold management information and then a further £118 for responses to queries raised by the buyers property lawyer.
Your lawyer will unlikely have any say over the level of the charges for this information but the typical costs for the information for Sketty leasehold premises is £360. When it comes to Sketty conveyancing transactions it is conventional for the seller to pay for these charges. The freeholder or their agents are not duty bound to address these questions although many will be willing to do so - albeit often at high prices disproportionate to the work involved. Regretfully there is no law that requires set charges for administrative tasks. Nor is there any set time limit by which they are duty bound to supply the information.