Our Swansea City conveyancer has identified an inconsistency between the information in the home valuation report and what is in the conveyancing documents. My solicitor informs me that he is duty bound to check that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We just had an offer accepted to purchase with Darlington Building Society. We have called around locally yet am struggling to find a Swansea City conveyancing firm on the Darlington Building Society approved list. Can you assist?
Please do take advantage of the find a lender approved solicitor tool on this page. Please choose the mortgage company and type Swansea City or your preferred area and you will be presented with a number of lawyer based in Swansea City or by proximity to you.
This question may be naive but I am unseasoned as FTB of a ground floor flat in Swansea City. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will appoint a High Street conveyancing solicitor in Swansea City?
On the day of completion you do not need to go to the conveyancers office in Swansea City. Conveyancing lawyers for you will transfer the completion advance to the seller's lawyers, and once they have received this, you will be invited to collect the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I am the only recipient of my late father’s estate with all property in now in my sole name, including the my former home in Swansea City. Conveyancing formalities meant that the Land Registry date was in April. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship will be considered the same way as though I had purchased the house in April. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view banks take of it, depend on the lender as this clause chiefly exists to pick up on subsales or the quick reselling of properties.
Intending to buy a house in Swansea City. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Swansea City lawyer is on the Yorkshire BS conveyancing panel.
Me and my brother purchased a terraced Victorian property in Swansea City. Conveyancing solicitor represented me and The Royal Bank of Scotland. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Swansea City and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with the conveyancing lawyer who completed the work.
I'm buying my first flat in Swansea City benefiting from help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not reveal to my lawyer about the side-deal as it will jeopardize my loan with Nottingham Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Our offer on house in Swansea City has been agreed to, but there is a chain. The current proprietors have offered on on an apartment, but it’s not been accepted yet, and are looking at other properties in the pipeline. I have selected a local conveyancing solicitor in Swansea City. What should be my next step? At what point should I apply for the mortgage with Nottingham?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Swansea City conveyancing search fees, etc). First, you must check that your lawyer is on the Nottingham approved list. As to the next phase this very much dictated by the circumstances of your transaction, desire for this property and on the state of the market. In a rising market many purchasers would apply for a home loan with Nottingham and arrange for the survey and only if it was satisfactory would they pay their conveyancing practitioner to press on with the conveyancing in Swansea City.