My husband and I are getting closer to an exchange on a house in Swansea and my parents have transferred the 10% deposit to my solicitor. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the lender regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
Your solicitor is duty bound to check with lender to ensure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only disclose this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
We are purchasing a house and require a conveyancing solicitor in Swansea who is on the HSBC solicitor panel. Can you recommend a local firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for HSBC . We don't recommend any particular firms conducting conveyancing in Swansea.
Is it correct that all Swansea CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved firms?
It is true that some lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Completion of my purchase has taken place for my property in Swansea. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
I can not work out if my mortgage offer requires a lease extension. I have called my Swansea building society branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My Swansea conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Your lawyer must comply with the CML Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 remaining.
I require expedited conveyancing in Swansea as I am under an ultimatum to complete within one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are are a mortgage free buyer you have the choice not to have searches carried out although no conveyancer would recommend that you don't. Drawing on years of experience of conveyancing in Swansea the following are instances of what can be revealed and therefore affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
I have recentlybeen informed that Wolstenholmes have closed. They carried out my conveyancing in Swansea for a purchase of a leasehold flat 18 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The quickest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Swansea conveyancing specialists.
Due to complete next month on a ground floor flat in Swansea. Conveyancing solicitors inform me that they report fully tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Swansea should include some of the following:
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The length of the lease term. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Who has the liability to repair and maintain the block. It is important for you to know who is responsible the repair and maintenance of every part of the building Are you allowed to have a pet in the flat? What options are available to the landlord where you have contravened the provisions of the lease? The total ownership of the demise. This could be the flat itself but could also incorporate a loft or storage are if appropriate.
Swansea Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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How many of the leaseholders are in arrears for their maintenance charge payments? It is important to be aware if changing the roof or some other significant cost is due in the near future to be shared by the leasehold owners and will dramatically increase the the maintenance charges or result in a one off invoice. Is the freehold reversion owned jointly by the leaseholders?