I am considering applying for a Leeds Building Society mortgage for purchase of a newly converted (under development) in Ystalyfera with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Leeds Building Society ?

In theory, you could use a solicitor that is not on the Leeds Building Society conveyancing panel, but Leeds Building Society would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.

I require fast conveyancing in Ystalyfera as I am faced with a deadline to sign on the dotted line in less than one month. A home loan is not required. Can I avoid the conveyancing searches to save fees and time?

As you are not getting a home loan you have the choice not to do searches although no solicitor would recommend that you don't. Drawing on years of experience of conveyancing in Ystalyfera the following are examples of issues that can appear and adversely impact future mortgageability: Refused Planning Applications, Overdue Charges, Outstanding Grants, Road Schemes,...

Am I right to be suspicious that 3rd parties that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a local Ystalyfera conveyancing firm?

As is the case with many professional services, often referrals from family and friends can be worth their weight in gold. Nevertheless there are many people with a vested interest in a conveyancing matter; estate agents, financial adviser and mortgage companies might all recommend lawyers to select. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the recommendation. You are free to select your own conveyancer. You need to be aware that the majority of lenders specify a panel list of solicitors you have to use for the mortgage aspect of your conveyancing.

We're first time buyers - agreed a price, but the estate agent informed us that the seller will only proceed if we appoint their recommended solicitors as they want a ‘quick sale’. We would rather use a family solicitor accustomed to conveyancing in Ystalyfera

We suspect that the owner is not behind this request. If they desire ‘a quick sale', turning down a genuine buyer is going to damage their objectives. Contact the sellers directly and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your own,trusted Ystalyfera conveyancing firm - rather thanthose that will provide the negotiator at the agency a introducer fee or meet his conveyancing figures pre-set by senior management.

What makes a Ystalyfera lease unmortgageable?

Leasehold conveyancing in Ystalyfera is not unique. Most leases are individual and drafting errors can result in certain clauses are not included. For example, if your lease is missing any of the following, it could be defective:

Clauses dealing with recovering service charges for expenditure on the building or common parts.

A defective lease will likely cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Skipton Building Society, and Barclays Direct all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the buyer to pull out.

Ystalyfera Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing

How is the lease structured? It is important to be aware whether redecorating or some other significant cost is anticipated that will be shared by the leaseholders and will dramatically increase the the maintenance charges or necessitate a one time payment. Are any of leasehold owners in dispute over their service charge payments?