I am progressing with the sale of my apartment in Swansea City and the EA has just e-mailed to say that the purchasers are changing their solicitor. The excuse is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a leading mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in Swansea City ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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 impact on this.
I am need of leasehold conveyancing for an apartment in a relatively new development (five years built) in Swansea City. The vast majority the properties have already been occupied. Is it strictly necessary to order conveyancing searches for my conveyancing in Swansea City?
You are opening yourself up to an unnecessary risk in failing carrying out Swansea City conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would absolutely advise in the strongest possible terms that you have them. Where time pressures and price are top of your issues you should consider with your solicitor about the option of search insurance
We had selected conveyancers located in Swansea City on the Coventry BS solicitor panel. They have just invoiced me a supplemental charge for handling the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. The fee is not dictated by Coventry BS but by your Swansea City solicitor. Plenty of firms on the Coventry BS panel will quote ’dealing with mortgage’ fee and others do not.
I have a mortgage with Lloyds for my property in Swansea City. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Lloyds?
Lloyds must be informed of your intention before letting out your property as this is likely to be a breach of Lloyds’s mortgage conditions. It may be that Lloyds will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Lloyds directly. You need not do this via a Lloyds conveyancing panel firm.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Clydesdale are being pedantic. The Swansea City solicitor who is on the Clydesdale conveyancing panel is saying indemnity insurance will be fine but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Just had an offer accepted on a new build flat in Swansea City. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Swansea City
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I decided to have a survey carried out on a house in Swansea City ahead of instructing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks may refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you call us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Swansea City. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Swansea City to see if the conveyancing will be more expensive.
I am thinking of appointing a conveyancing lawyer in Swansea City for my purchase. Can I review a firm’s complaints history with the profession’s regulator?
Members of the public can review presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could monitor telephone calls for training requirements.