Is the fact that my solicitor in Bargoed is not listed on my lender's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Bargoed conveyancing practice and enquire why they are no longer on the approved list for your lender.
The owners have very pushy sellers who has recommended a preliminary contract with a down payment 10k. Is it wise to enter into such agreements?
This type of contract is unusual in Bargoed, conveyancers are often found to direct clients away from them as they detract from focusing on the primary objective, namely conveyancing and if you end up losing your deposit then the lawyer is left exposed. In addition, there is no certainty that just because the seller has signed an exclusivity agreement they will complete the sale with you. They may breach the agreement if they are offered a large enough financial inducement to do so because a wronged party with the benefit of a exclusivity agreement will still be obliged establish consequential losses from the breach and this may not equalise the extra amount that your seller may gain by reneging on the contract, however morally shameful that may be.
I am considering applying for a Nottingham mortgage for purchase of a newly converted (under development) in Bargoed with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What will a local search reveal about the house I am buying in Bargoed?
Bargoed conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Xpress Legal The local search is essential in every Bargoed conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications relevant 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 13 subject sections.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Bargoed I like with amenity areas and transport links in the vicinity, the downside is that it only has 49 years on the lease. I can't really find anything else in Bargoed for this price, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage that many years will likely be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
My father-in-law has recommend that I instruct his conveyancing solicitors in Bargoed. Should I use them?
No doubt it’s preferable to select a conveyancing practitioner is to have guidance from friends or family who have experience in using the conveyancer that you are contemplating using.