I am nearing exchange of contracts for my house in Blaenau Gwent and the estate agent has just text me to warn that the buyers are switching property lawyer. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Blaenau Gwent ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
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 claims that it is hearing daily from firms 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. Your buyers are not going to have any impact on this.
I am approaching an exchange on a flat in Blaenau Gwent and my parents have sent the exchange deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancer is obliged to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I bought my home in Blaenau Gwent. Conveyancing lawyers have just been retained on the sale but I can't track down the title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be retained by your mortgage company or they could be in the possession of the solicitor who oversaw your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Almost all conveyancing in Blaenau Gwent involves registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
I have a decision in principle. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel conveyancer as I would much rather use a Blaenau Gwent based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you accept the "fee-free" deal. Call the lender and see if they allow a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Blaenau Gwent.
I note that there are debates on Chancel Insurance on online forums. Do I require this when acquiring a house in Blaenau Gwent? or I am told that there is historic law that means some house owners living in a parish church boundary may be liable to contribute towards repairs to the chancel within the church. Is this a legitimate concern for conveyancing in Blaenau Gwent?
Unless a previous purchase of the house completed post 12 October 2013 you may assume that lawyers handling conveyancing in Blaenau Gwent to continue to suggest a chancel search and or insurance against a claim.
Having checked my lease I have discovered that there are only 62 years left on my lease in Blaenau Gwent. I need to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to locate the lessor. In some cases an enquiry agent would be useful to carry out a search and to produce a report to be used as evidence that the landlord can not be located. It is advisable to get professional help from a conveyancer in relation to investigating the landlord’s absence and the vesting order request to the County Court overseeing Blaenau Gwent.
Blaenau Gwent Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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Make sure you enquire if the the lease contains any adverse restrictions in the lease. By way of example it is very common in Blaenau Gwent leases that pets are not permitted in in a block in Blaenau Gwent. If you love the flatin Blaenau Gwent yet your cat is not allowed to live with you then you will be faced hard determination. This question is helpful as a) areas can result in problems in the building as the communal areas may start to deteriorate where services are not paid for b) if the leaseholders have a dispute with the running of the building you will wish to have all the details It would be sensible to find out as much as you can concerning the managing agents as they will either make living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the communal areas. Enquire of prospective neighbours what they think of them. In conclusion, be sure you discover the dates that the service fees are due to the managing agents and specifically what it includes.