Me and my fiance are hoping to acquire a 2 bedroom flat in Borth with a mortgage. We have a Borth solicitor, however the bank says he's not on their "panel". It seems we have no choice but to select one of the lender panel conveyancing practices or continue with our Borth lawyer as well as pay for one of their panel firms to represent them. We consider that this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Borth conveyancing solicitor to apply to be on the conveyancing panel.
A colleague informed me that in buying a property in Borth there may be a number of restrictions affecting the ability to carry out external alterations to the property. Is this right?
There are anumerous of properties in Borth which have some sort of restriction or requirement of consent to perform external variations. Part of the conveyancing in Borth should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Clydesdale, do Borth solicitors face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
We have a mortgage agreed in principle with Coventry BS. Borth conveyancing lawyers are appointed. How long does it take for Coventry BS to forward the offer to the conveyancing practitioner?
There is no definitive answer here. Have Coventry BS done the survey? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have justbeen informed that Action Conveyancing have closed. They carried out my conveyancing in Borth for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is in my name in the name of the former proprietor?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Borth conveyancing specialists.
I opted to have a survey done on a house in Borth before instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some lenders may refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. If you e-mail us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Borth. Conveyancing will be smoother if you use a solicitor in Borth especially if they are accustomed to such properties in Borth.
I have been recommended by two or three local property agents in Borth to find a solicitor using your seach tool. Is there a financial inducement for Estate Agents to market your site over and above alternative conveyancing organisations?
We refuse to give any financial incentive for sending work in our direction. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am buying a maisonette and cash is in place. My solicitor has been given with two separate proof of photo identification, bank statement, endless utility bills. Now he wants a copy from a probate lawyer acknowledging that the money is in order and that it has come from inheritance and not via illegitimate means.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Borth conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.