Unfortunately I am unable to travel far from Pontardawe. Is there a reason why all Pontardawe conveyancing practitioners are not on all mortgage company panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or solicitor’s viewpoint, the the contrary view is that banks are increasingly anxious and consider it imperative to shield themselves against mortgage fraud. As a result of this concern lenders are limiting their conveyancing panel to a size that they are happy to control.
My Solicitor in Pontardawe is not listed on the HSBC Bank Approved Panel. Is it possible for me to continue with my family solicitor even though they are not on the HSBC Bank panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your preferred Pontardawe solicitors but HSBC Bank will need to instruct a solicitor on their list of acceptable firms. This will inevitably rack up the total conveyancing fees as well as result in delays.
- Get a new lawyer to to deal with the purchase, not forgetting to check they are HSBC Bank approved.
- Try to convince your HSBC Bank solicitor to try to join the HSBC Bank panel
How does conveyancing in Pontardawe differ for new build properties?
Most buyers of new build premises in Pontardawe contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because house builders in Pontardawe typically buy 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 conveyancers 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 Pontardawe or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Pontardawe is the location of the property. Can you offer any guidance?
Flying freeholds in Pontardawe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pontardawe you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontardawe may determine 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 premises.
We're new to the buying process - agreed a price, yet the selling agent told us that the seller will only issue a contract if we use their preferred conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Pontardawe
We suspect that the owner is unaware of this request. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Avoid the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you will continue to appoint your preferred Pontardawe conveyancing lawyers - not the ones that will earn their negotiator at the agency a commission or hit his conveyancing targets demanded by corporate headquarters.