We are about to sign contracts for a garden flat in Carmarthenshire. We have hit a snag. Our mortgage offer with Nationwide Building Society expires on 13/9/2024 but the owners are insisting on a completion date of 17/9/2024. Is it possible to extend the mortgage expiry date?

The person best placed to deal with your issue is your lawyer who is in a position to determine whether they better off negotiating with the bank, seller’s lawyers, property agents or possibly all parties given the circumstances your transaction as of today.

In what way does my ID and proof of funds have anything to do with my conveyancing in Carmarthenshire? What am I being asked for?

Carmarthenshire conveyancing solicitors as well as nationwide property lawyers throughout the UK have a duty under money laundering regulations to verify the identity of any client in order to satisfy themselves that clients are who they say they are.

Conveyancing clients are required to disclose two forms of certified identification; proof of identity (usually a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).

Evidence of source of funds is also necessary under the money laundering laws as conveyancers are mandated to investigate that the funds you are using to buy a property (be it the exchange deposit or the total purchase amount if you are buying without a mortgage) has originated from an acceptable source (such as an inheritance) rather than the product of illegitimate activity.

Can you help - my lawyer advises that defective lease insurance is necessary on my purchase. What is the level of cover for Carmarthenshire conveyancing?

The right level of defective lease indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and Skipton Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.

Does a directory service exist listing Lloyds panel solicitors in Carmarthenshire on the Council of Mortgage Lender’s Website?

No. There is no such facility on the CML or Building Society Association websites. Very few lending institutions make their panel listings viewable on the web. If you are looking for a Carmarthenshire conveyancing practitioner on the Lloyds please use our tool.

I can not fathom if my bank requires a lease extension. I have telephoned my Carmarthenshire building society branch on a couple of occasions and was told it wasn't a problem and they would lend. My Carmarthenshire conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their published requirements. Who do I believe?

Provided that the lawyer is on the mortgage company approved list, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

Will my lawyer be raising questions concerning flooding as part of the conveyancing in Carmarthenshire.

The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Carmarthenshire. There are those who purchase a property in Carmarthenshire, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.

Conveyancers are not best placed to impart advice on flood risk, but there are a numerous checks that can be initiated by the buyer or on a buyer’s behalf which will figure out the risks in Carmarthenshire. The conventional set of completed inquiry forms sent to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover whether the premises has historically flooded. If flooding has previously occurred which is not disclosed by the owner, then a buyer may bring a legal claim for losses as a result of such an inaccurate response. A purchaser’s solicitors should also carry out an enviro search. This will disclose whether there is any known flood risk. If so, additional inquiries should be carried out.

I'm purchasing a new build house in Carmarthenshire benefiting from help to buy. The sellers refused to reduce the amount so I negotiated £7000 of additionals instead. The estate agent told me not disclose to my conveyancer about the extras as it would adversely affect my mortgage with Nationwide Building Society. Is this normal?.

All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.