Our solicitor has identified a a legal deficiency with the lease for the apartment we are purchasing in Splott. The other side have suggested title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancer has advised that he must ensure that the bank is willing to move forward with this solution. Who is the client here, us or the lender?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. These conveyancing instructions must be adhered to.
Can you clarify what the consequences are if my solicitor is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Splott?
The first thing to point out is that, this is a very rare occurrence. 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 at a cost.
My wife and I are buying a house in Splott. I might seem paranoid but how we can trust a conveyancer? At some point we have to send funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
What is the difference between a licensed conveyancer and conveyancing solicitor in Splott
There are many registered licenced Conveyancers in Splott and Solicitor firms in Splott who can assist with your conveyancing We would stress that both are regulated professionals specialising in the legal work in the home buying process. Both can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
My wife and I are in the process of looking at houses in Splott and I am about to put in an offer. Should I already have a solicitor appointed at this stage? I will be getting a mortgage with Barclays.
You should start requesting conveyancing estimates from solicitors ASAP. 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 EA. As you are seeking a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
How does conveyancing in Splott differ for new build properties?
Most buyers of new build premises in Splott contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is constructed. This is because developers in Splott tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Splott or who has acted in the same development.
I'm refinancing my existing home to a buy to let loan with Yorkshire Building Society and I will use the rest of the raised equity as a down payment on another house. The neighborhood we are interested in is Splott. Will your solicitors be able to act for both sets of lenders and tie in the conveyances?
Do use our comparison tool on this site to be sure that the conveyancers are approved by both banks. On the basis that they are your conveyancer should be able to tie up the two deals but you should have a chat with you conveyancer and make apparent your expectations and requirements.
My uncle has recommend that I instruct his conveyancers in Splott. Do I take his advice?
Much as we are happy to recommend a Splott conveyancing lawyer the ideal way to find a conveyancing solicitor is to seek referrals from friends or relatives who have actually previously instructed the solicitor you're contemplating using.