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FAQs : The Swansea Building Society Solicitor Panel
How easy is it to change a solicitor as I need to find one who is on the Swansea Building Society conveyancing panel. How easy is it to change conveyancer?
If you haven't yet instructed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer you're considering.
My husband and I are refinancing our maisonette with Swansea Building Society. We have a son approaching twenty who lives with us. The solicitor on the Swansea Building Society conveyancing panel has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the flat is forfeited by the lender. I have a couple of questions (1) Is this form unique to the Swansea Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
First, rest assured that your Swansea Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Swansea Building Society .This is solely used to protect the Swansea Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Swansea Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the Swansea Building Society conveyancing panel. My lawyer has said that they are on the Swansea Building Society approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the Swansea Building Society conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the Swansea Building Society solicitor panel.
We're in Wales, FTBs buying with a mortgage (lender is Swansea Building Society , but our solicitor is on the Swansea Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Swansea Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our 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
We were going to get a DIP from Swansea Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc).Do the Swansea Building Society recommend a solicitor on the Swansea Building Society conveyancing panel, or is it better to go independently
You will need to appoint solicitors independently although you'll need to choose one on the Swansea Building Society conveyancing panel. The solicitor represents both you and the Swansea Building Society through the process.
I have a mortgage with Swansea Building Society. My godfather has just retired and wants to pay off the mortgage left on the property. After Swansea Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Swansea Building Society conveyancing panel? I do not intend to live at the property once the Swansea Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Swansea Building Society panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
The mortgage over my property is with Swansea Building Society. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Swansea Building Society?
You must advise Swansea Building Society in advance of letting out your property as this is likely to be a breach of Swansea Building Society’s mortgage conditions. It may be that Swansea Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Swansea Building Society directly. You need not do this via a Swansea Building Society conveyancing panel solicitor.