I am approaching an exchange on a flat in Pentwyn and my mum and dad have transferred the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has not come from me my lawyer needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your lawyer is obliged to clarify with the bank to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
We see that you have a search directory identifying solicitors on the HSBC conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Pentwyn?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Pentwyn.
We are purchasing a end of terrace house in Pentwyn. The intention is to an extension at the rear at the house.Will the conveyancing process include investigations to determine if these alterations are allowed?
Your solicitor will review the registered title as conveyancing in Pentwyn will on occasion reveal restrictions in the title documents which restrict categories of alterations or require the permission of another owner. Some extensions need local authority planning consent and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
Is it the case that all Pentwyn solicitor firms on the HSBC conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the HSBC conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
I have a mortgage with Leeds Building Society for my property in Pentwyn. Conveyancing was finalised a year 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 buy-to-let mortgage or inform Leeds Building Society?
Your original mortgage agreement with Leeds Building Society will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society 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 Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel solicitor.
How does conveyancing in Pentwyn differ for new build properties?
Most buyers of new build property in Pentwyn approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Pentwyn usually purchase the real estate, 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 property lawyers 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 used to new build conveyancing in Pentwyn or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Pentwyn is the location of the property. Can you shed any light on this issue?
Flying freeholds in Pentwyn are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pentwyn you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pentwyn may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking for a conveyancing lawyer in Pentwyn for my home move. Can I check a solicitor's record with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) decisions arising from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. For records 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. International callers, use +44 (0)121 329 6800. The SRA could recorded telephone calls for training purposes.