My fiance and I are hoping to buy a property in Swansea East and are in fact using a Swansea East conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Leeds Building Society have this evening contacted us to advise us that there is now an issue as our Swansea East conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also act for the purchaser's lender. 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 Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Swansea East solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
All was ready to move into my new home in Swansea East next Monday. My lawyer now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
All property lawyers on acting for mortgage companies would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These obligations are not specific to conveyancing in Swansea East.
I am downsizing from our property in Swansea East and the buyers lawyers are claiming that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. It does beg the question why the purchasers instructed a nationwide conveyancing practice rather than a conveyancing solicitor in Swansea East. Having lived in Swansea East for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Just had an offer accepted on a new build flat in Swansea East. 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.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Swansea East
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I am looking to sell my property. My previous conveyancers closed down. I am in need of a recommendation of a conveyancing firm. Im based in Swansea East if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Swansea East. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
We have been informed by numerous estate agents to expect six to eight weeks for Swansea East conveyancing to complete.This was a month ago. The draft contract was only sent to my solicitor yesterday so does the time start running now?
Don't bank on moving on a certain date until exchange of contracts occurs. Whatever assurances the people you are purchasing from or selling to make, or your estate agent provides don't rely on them. More frustration is caused to clients trying to move home by unfulfilled promises than any other factor when it comes to conveyancing in Swansea East.