I am nearing exchange of contracts for my flat in Baglan and the estate agent has just e-mailed to say that the purchasers are changing their law firm. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a major mortgage company only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Baglan ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions justify this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal 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 do not even realise 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 impact on this.
The owners have very pushy vendors who has recommended a lock out agreement with a non-refundable deposit two thousand pounds. Are such agreements sensible?
There are two primary concerns with executing a lock out contract (sometimes referred to as a no-shop agreement) is that it diverts attention away from moving forward with the conveyancing work, so unless it requires minimal or no negotiation then it could transpire to be unhelpful. It is not strongly advocated amongst Baglan conveyancing solicitors for this reason. The other main negative is the extent of the remedies available - an aggrieved buyer is very unlikely to be granted an injunctive ruling by a court to prohibit the vendor selling to another buyer, so the only remedy available under the agreement will be the reimbursement of abortive charges and, in restricted situations, the extra payment of damages.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would prefer to instruct a Baglan based conveyancing firm?
Do check but the the probability is that allocate you one of their panel lawyers if you take up the "fee-free" incentive. Speak to the mortgage company to determine if they allow a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Baglan.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Baglan?
There are many registered licenced Conveyancers in Baglan and Solicitor firms in Baglan who provide Conveyancing services It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. They may both also conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We have agreed to purchase a house in Baglan. An unusual aspect is that the roof has a solar panel. Lloyds have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Lloyds your lawyer must follow the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook includes minimum conditions for solar panel roof-space leases, and lawyers are required to report to Lloyds where a lease does not satisfy these conditions. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Baglan.
I am currently in the process of buying my council flat in Baglan. I have a mortgage offer with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
Just bought a terraced house in Baglan , What is the estimated time for the Land Registry to register the transfer to my name? My Baglan conveyancing solicitor works at snail pace, so I want to be sure that my ownership is registered.
As far as conveyancing in Baglan registration is no quicker or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can adjust subject to the party submitting the application, whether there are errors and if the Land registry must send notices to any 3rd parties. As of today approximately three quarters of such applications are fully addressed in less than three weeks but occasionally there can be extensive delays. Registration is effected once the new owner has moved in to the premises thus registration formalities is not typically an essential issue yet if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for an expedited registration.
I have been sourcing a conveyancing lawyer in Baglan for my home move. Is it possible to review a solicitor's complaints history with the legal regulator?
Anyone may review presented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after 1 January 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.