Our lawyer has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Swansea City. The seller’s lawyers have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is content with this solution. Who is the client here, us or the bank?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the mortgage company are the client. The appropriate lender provisions have to be complied with.
It is a dozen years since I bought my property in Swansea City. Conveyancing lawyers have now been retained on the sale but I am unable to locate the deeds. Will this jeopardise the sale?
Don’t worry too much. First there is a chance that the deeds will be kept by the mortgage company or they may be in the possession of the conveyancers who acted in your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Swansea City relates to registered property but in the rare situation where your home is unregistered it is more problematic but is not insurmountable.
We hope to to buy with Coventry BS. I visited 3 or 4 local solicitors but am unable to find a Swansea City conveyancing firm on the Coventry BS panel. Please you assist?
You should take advantage of the search tool on this site. Please choose the lender and type Swansea City or your preferred area and you will see a number of lawyer based in Swansea City or near you.
This question may be naive but I am unexperienced as FTB of a two bedroom flat in Swansea City. Do I collect the keys to the property on completion from my solicitor? If so, I will appoint a local conveyancing solicitor in Swansea City?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the vendor’s lawyers, and once they have received this, you will be invited to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I happen to be the only beneficiary of my late father’s estate and I have everything in my name alone, including the house in Swansea City. The Swansea City property was put into my name in March. I plan to dispose of the house. I do know about the CML six month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the house in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. many banks would take a practical view as this clause chiefly exists to pick up on subsales or the quick reselling of property.
Planning on purchasing a flat 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 RBS 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 property lawyer is on the RBS conveyancing panel.
I've recently found out that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Swansea City is where the house is located. Is there any guidance you can impart?
Flying freeholds in Swansea City are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Swansea City you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Swansea City may ascertain 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.
As co-executor for the estate of my father I am disposing of a residence in Monmouth but reside in Swansea City. My solicitor (who is 250 kilometers from merequires that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing lawyer in Swansea City to attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are located in Swansea City