I sincerely hope you can assist me. My Skewen solicitor is informing me me that he has toconduct Skewen conveyancing searches becausethe firm are on the Nat Westapproved lawyer panel. Is my conveyancer correct?
You have limited options available to you. As you are taking a home loan with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Skewen conveyancing searches.
I have been recommended a conveyancing solicitor in Skewen. I need to find out if they are accepted on the Lloyds TSB Bank conveyancing panel. Can you assist?
The first thing you should do is call the lawyer and ask them whether they are on the lender panel. Alternatively you can get in touch with Lloyds TSB Bank who may be able to assist.
How does conveyancing in Skewen differ for newly converted properties?
Most buyers of new build residence in Skewen come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Skewen typically buy the land, 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 used to new build conveyancing in Skewen or who has acted in the same development.
I'm refinancing my existing property to a buy to let mortgage with Godiva Mortgages Ltd and intend to use the remaining equity towards further property. The area we are looking at is Skewen. Will your conveyancers be able to act for the two banks and tie in the two deals?
Make use of our comparison tool on this page to check that the conveyancers are approved by both banks. On the basis that they are your conveyancer should be able to connect the two deals but you should talk with you conveyancer and communicate your expectations and requirements.
Our lawyer in Skewen has uncovered a a problem with the lease for the apartment we are purchasing in Skewen. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.