My wife and I are only a couple days away from an exchange on a house in Adamsdown and my mum and dad have sent the 10% deposit to my lawyer. I am now informed that as the deposit has not come from me my conveyancing practitioner needs to make a notification to my mortgage company. I am advised that, in also acting for the bank he must inform 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 home loan, so is it really necessary for him to raise this?
The solicitor is obliged to check with mortgage company to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
As a first time buyer what is the most important advice you can give me concerning purchase conveyancing in Adamsdown?
You may not hear this from too many lawyers but conveyancing in Adamsdown or throughout Cardiff is an adversarial experience. In other words, when it comes to conveyancing there is an abundance of opportunity for friction between you and others involved in the ownership transfer. E.g., the vendor, estate agent and even potentially your bank. Appointing a lawyer for your conveyancing in Adamsdown should not be taken lightly as your conveyancer is your adviser, and is the SOLE person in the process whose role it is to act in your legal interests and to keep you safe.
On occasion a third party with a vested interest will try and sway you that it is in your interests to do things their way. For instance, the estate agent may claim to be helping by claiming that your conveyancer is wrong. Or your financial adviser may tell you to do take action that is contrary to your lawyers guidance. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I used Wolstenholmes several years ago for my conveyancing in Adamsdown. Now, I need the files however the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Adamsdown of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Adamsdown differ for newly converted properties?
Most buyers of new build or newly converted property in Adamsdown contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Adamsdown typically purchase the site, 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 conveyancing solicitors 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 Adamsdown or who has acted in the same development.
How do I use your search app to select a conveyancing solicitor in Adamsdown on the authorised to act for my lender?
Step one is to choose a bank such as Lloyds TSB Bank, Skipton Building Society or Bank of Ireland then specify your preferred area for instance Adamsdown. Conveyancing firms in Adamsdown and further afield will then be identified.