Our solicitor has identified a a problem with the lease for the property we are buying in Brynmill. The other side have suggested title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner has advised that he must ensure that the bank is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
As a novice what is the most important piece of guidance you can give me concerning purchase conveyancing in Brynmill?
You may not hear this from too many lawyers but conveyancing in Brynmill and elsewhere in Swansea is often a confrontational experience. In other words, when it comes to conveyancing there is lots of opportunity for friction between you and others involved in the ownership transfer. For example, the seller, selling agent and on occasion the mortgage company. Appointing a solicitor for your conveyancing in Brynmill is a critical decision as your conveyancer is your adviser, and is the ONLY person in the legal process whose interest is to protect your legal interests and to keep you safe.
We are witnessing a worrying creep of a "blame" culture- someone must be blamed for the process taking so long. You your first instinct should be to trust your solicitor ahead of the other players when it comes to the legal assignment of property.
I am purchasing a property and need a conveyancing solicitor in Brynmill who is on the HSBC Bank solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for HSBC Bank in certain locations such as Brynmill. We dont recommend any particular firm.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Brynmill is the location of the property. Can you offer any opinion?
Flying freeholds in Brynmill are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brynmill you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brynmill may decide 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 property.
Am I better off to go with a Brynmill conveyancing practitioner based in the location that I am hoping to buy? An old friend can handle the legal work but they are based approximately 350kilometers drive away.
The primary upside of using a high street Brynmill conveyancing practice is that you can attend the office to sign documents, present your ID and apply pressure on them where appropriate. They will also have local insight which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and the majority were impressed that should outweigh using an unfamiliar Brynmill conveyancing lawyer solely due to them being based in the area.