I am getting closer to an exchange on a property in Pontcanna and my parents have transferred the exchange deposit to my property lawyer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my bank. 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 informed the bank regarding my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
The solicitor is duty bound to clarify with mortgage company to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Are the Pontcanna conveyancing solicitors identified as being on the Lloyds conveyancing panel, together with their details provided by Lloyds?
Pontcanna conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
We're in Pontcanna, First timers buying with a mortgage (lender is Yorkshire BS , and our lawyer is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Pontcanna is where the house is located. What do you suggest?
Flying freeholds in Pontcanna are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Pontcanna 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 Pontcanna may ascertain 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 residence.
My husband and I are 18 days into a freehold purchase having been recommend to a firm by the high street agent to execute conveyancing in Pontcanna. I am am starting to be dissatisfied with the level of service. Could you help me find new lawyers?
A conveyancer would have to be very bad to suggest changing them. Has your loan offer been generated? If so you will need to make them aware of the new solicitor and ensure the offer are re-sent. Your new solicitor ideally needs to be on the lenders panel to avoid added fees and delays. That should be your starting point. The find a solicitor tool can assist you in finding a lender approved solicitor for your conveyancing in Pontcanna