I am progressing with the sale of my home in Abercarn and the EA has just text me to say that the purchasers are changing their conveyancer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. Why would a leading mortgage company only engage with specific law firms rather the firm that they want to select to handle their conveyancing in Abercarn ?
Lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
We see that you have a post code search directory listing solicitors on the RBS conveyancing panel. Do companies pay you a referral fee if I retain them for our own conveyancing in Abercarn?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Abercarn.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Abercarn?
There are many registered licenced Conveyancers in Abercarn and Solicitor firms in Abercarn offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can handle associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am buying a victorian detached house in Abercarn. Our aim is to an extension at the rear at the property.Will legal work on the property include investigations to see if these works are allowed?
Your property lawyer will review the registered title as conveyancing in Abercarn can occasionally identify restrictions in the title documents which prevent categories of works or require the consent of another owner. Some extensions require local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Abercarn conveyancing practitioner on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
What does a local search reveal concerning the house my wife and I purchasing in Abercarn?
Abercarn conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Searches UK The local search plays an important part in many a Abercarn conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
Should I go with a Abercarn conveyancing solicitor based in the area that I am purchasing? I have an old university friend who can carry out the conveyancing however her office is approximately 350kilometers drive away.
The primary upside of using a high street Abercarn conveyancing firm is that you can drop in to execute paperwork, present your identification documents and apply pressure on them where appropriate. They will also have local insight which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have used your friend and in the main were impressed that must trump using an unfamiliar Abercarn conveyancing lawyer solely due to them being Abercarn based.
I've recently bought a leasehold house in Abercarn. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Abercarn Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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Is the freehold owned collectively by the tenants? Who are the managing agents? How many of the leaseholders are in arrears for their maintenance charge payments?