I am selling my ground floor flat in Bargoed and the EA has just text me to say that the buyers are appointing a new conveyancer. I am told that this is due to the fact that the lender will only deal with property lawyers on their approved list. On what basis would a leading lender only engage with specific law firms rather the firm that they want to select for their conveyancing in Bargoed ?
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 Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. Your buyers are not going to have any impact on this.
As someone with no idea as to the Bargoed conveyancing process what’s your top tip you can give me for the house moving process in Bargoed
Not many law firms shout this from the rooftops but conveyancing in Bargoed or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is plenty of opportunity for conflict between you and other parties involved in the legal transfer of property. E.g., the seller, selling agent and sometimes your lender. Selecting a law firm for your conveyancing in Bargoed an important selection as your conveyancer is your adviser, and is the ONE party in the process whose interest is to look after your best interests and to protect you.
Every so often a third party with a vested interest will attempt to persuade you that it is in your interests to do things their way. For example, the selling agent may claim to be assisting by suggesting your solicitor is slow. Or your financial adviser may advise you to do something that is against your conveyancers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My Solicitor in Bargoed is not on the The Royal Bank of Scotland Conveyancing Panel. Can I still retain my family solicitor notwithstanding that they are excluded from the The Royal Bank of Scotland panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Bargoed lawyers but The Royal Bank of Scotland will need to instruct a lawyer on their panel. This will result in additional overall legal fees as well as cause frustration.
- Choose an alternative practitioner to to deal with the conveyancing, obviously checking they are on the The Royal Bank of Scotland panel
I completed on my apartment on 13 January and my personal details is yet to be registered. Should I be concerned? My conveyancing solicitor in Bargoed expressed confidence that it should be recorded in a couple of weeks. Are titles in Bargoed uniquely lengthy to register?
There is nothing unique about conveyancing in Bargoed registration formalities. Rather than based on location, timescales can adjust depending on who lodges the application, whether it is in order and if the Land registry must send notices to any interested persons or bodies. At present roughly three quarters of such applications are fully addressed in less than three weeks but some can be subject to extensive hold-ups. Historically registration occurs after the purchaser is living at the premises thus an expedited registration is not usually primary concern yet if it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for an expedited registration.
I'm remortgaging my existing home to a buy to let loan with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on further property. The area we are interested in is Bargoed. Will your conveyancers be able to act for the two mortgage companies and link together the transactions?
Make use of our search tool on this page to ensure that the lawyers are approved by both mortgage companies. On the basis that they are your conveyancer should be able to simultaneously deal with the two conveyancing matters but you should talk with you conveyancer and make clear your expectations and requirements.
My brother has urged me to use his conveyancers in Bargoed. Should I find my own conveyancer?
No doubt the ideal way to find a conveyancing lawyer is to get referrals from friends or family who have experience in using the solicitor that you are considering.