My husband and I are getting closer to an exchange on a flat in Pontardawe and my mum and dad have transferred the exchange deposit to my conveyancing practitioner. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to be an issue?
The property lawyer is obliged to clarify with lender to ensure that they know that the balance of the purchase price is not from your own funds. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Can you explain why leasehold purchase conveyancing in Pontardawe is more expensive?
In summary, leasehold conveyancing in Pontardawe and Neath Port Talbot usually necessitates more due diligence compared to freehold transactions. This includes reviewing the lease, corresponding with the landlord concerning the service of applicable notices, securing up-to-date service charge and management information, securing the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
Various web forums that I have come across warn that are the main reason for obstruction in Pontardawe house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Searches are not likely to be the root cause of slowing down conveyancing in Pontardawe.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Pontardawe is the location of the property. What do you suggest?
Flying freeholds in Pontardawe are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Pontardawe you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pontardawe may decide 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.
As co-executor for the estate of my aunt I am disposing of a house in Newport but live in Pontardawe. My solicitor (based 250 miles from merequires that I sign a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Pontardawe who can attest this legal document for me?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Pontardawe based