My wife and I are approaching an exchange on a property in Skewen and my mum and dad have sent the 10% deposit to my property lawyer. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I disclosed to the bank about my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your conveyancing practitioner is legally required to clarify with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I bought my home in Skewen. Conveyancing solicitors have just been instructed on the sale but I can't find my title deeds. Is this a major issue?
Don’t worry too much. First there is a possibility that the deeds will be retained by your lender or they may be archived with the solicitor who acted in the purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing solicitors obtaining up to date copy of the land registers. The vast majority of conveyancing in Skewen relates to registered property but in the unlikely event that your home is unregistered it is more problematic but is resolvable.
Please help - my lawyer advises that defective lease insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Skewen?
The appropriate level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and Coventry Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
I have a mortgage with Leeds Building Society for my property in Skewen. Conveyancing has been completed 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 buy-to-let mortgage or inform Leeds Building Society?
You must advise Leeds Building Society prior to letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will permit you to let 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 firm.
I recently had an offer accepted on a house in Skewen. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £200. A couple of days later, the conveyancer contacted me to say that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
We are downsizing from our home in Skewen and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Skewen conveyancer would know that there is no such problem. It does beg the question why the buyers used an online conveyancing firm rather than a conveyancing solicitor in Skewen. We have lived in Skewen for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You must 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 life insurance to cover that same illness)
I have justbeen informed that Arc property Solicitors have been shut down. They conducted my conveyancing in Skewen for a purchase of a freehold house 10 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest method to check if the premises is registered to you, you can carry out 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 Skewen conveyancing specialists.
I decided to have a survey carried out on a house in Skewen before appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some lenders tend refuse to give a loan on such a premises.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Skewen. Conveyancing may be slightly more expensive based on your lender's requirements.