I am nearing exchange of contracts for my house in Blaenau Ffestiniog and the EA has just text me to say that the purchasers are swapping property lawyer. 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 major lender only engage with specific solicitors rather the firm that they want to select for their conveyancing in Blaenau Ffestiniog ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. 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. Plenty of firms 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.
I have given 8 weeks notice to my existing landlord and have to be out of my rented property in Blaenau Ffestiniog by the end of next month. Conveyancing for my house purchase is progressing. Can I complete in 4 weeks as don't want to have to find temporary accommodation?
It is unwise to serve notice on a rental until your lawyer suggests that you should. Assuming that you have not previously done so, speak to your lawyer and request that they seek the assistance the other side, try to an agreed time frame that all parties will work to achieve
We are looking to buy a flat and require a conveyancing solicitor in Blaenau Ffestiniog who is on the Bank of Ireland approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Blaenau Ffestiniog.
My aunt passed away last year and as sole heir and executor I was left the property in Blaenau Ffestiniog. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
If you intend to refinance then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
My colleague recommended that if I am purchasing in Blaenau Ffestiniog I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Blaenau Ffestiniog conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Blaenau Ffestiniog around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Blaenau Ffestiniog Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful data regarding Blaenau Ffestiniog.
Is there a distinction between surveying and conveyancing in Blaenau Ffestiniog?
Conveyancing - in Blaenau Ffestiniog or elsewhere - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are purchasing and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the seller to remedy the defects before you move in.