My wife and I are only a couple days away from an exchange on a house in Bridgend and my mum and dad have transferred the 10% deposit to my conveyancer. I am now advised that as the deposit has not arrived from me my lawyer needs to disclose this 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 not just from me. I advised the mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your solicitor is duty bound to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
How does conveyancing in Bridgend differ for new build properties?
Most buyers of new build premises in Bridgend come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because builders in Bridgend tend to 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 accustomed to new build conveyancing in Bridgend or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Bridgend before instructing lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will not grant a loan on such a house.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bridgend. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bridgend to see if the conveyancing will be more expensive.
I am looking to sell my property. My former solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Bridgend if that affects matters.
You should use our search tool to help you choose a solicitor for your conveyancing in Bridgend. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
I am using a search engine for the words conveyancing in Bridgend it shows results of many conveyancerslocally. With so much choice what is the best way to find the right property lawyer for my move?
The ideal method of seeking a suitable conveyancer is through a trusted referral, so seek the opinion of friends and relatives who have acquired a property in Bridgend or a reputable estate agent or financial adviser. Costs for conveyancing in Bridgend differ, so it's advisable to secure a minimum of four quotes from varying types of property lawyers. Make sure that you clarify that the fees are fixed.