I am nearing exchange of contracts for my flat in Brecon and the EA has just e-mailed to say that the buyers are switching solicitor. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a big named mortgage company only deal with specific law firms rather the firm that they want to select to handle their conveyancing in Brecon ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Mortgage companies blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 unlikely to have any impact on this.
Are you able to recommend a Alliance & Leicester sanctioned Brecon conveyancing conveyancer that can complete within 10 days? Am I best advised to go for a high street Brecon solicitor or a web based comparison site?
We can recommend some very good Brecon conveyancing firms. You can also walk up the high street in Brecon. Go in to two or three law practices and request to speak with a conveyancing solicitor for a fee estimate. Explain your deadline together with your reasons and get an assurance on your deadline. Choose the one that appears most efficient.
We are looking to buy a flat and need a conveyancing solicitor in Brecon who is on the Santander conveyancing panel. Can you recommend a local 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 Santander . We don't recommend any particular firms conducting conveyancing in Brecon.
Will our solicitor be asking questions concerning flooding as part of the conveyancing in Brecon.
Flooding is a growing risk for conveyancers conducting conveyancing in Brecon. There are those who purchase a property in Brecon, completely expectant that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Brecon. The standard property information forms given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to find out whether the premises has suffered from flooding. In the event that the residence has been flooded in past which is not disclosed by the owner, then a buyer may bring a legal claim for losses stemming from an incorrect reply. The buyer’s solicitors should also carry out an enviro report. This should indicate whether there is a recorded flood risk. If so, more detailed inquiries will need to be initiated.
Can you provide any top tips for leasehold conveyancing in Brecon with the aim of saving time on the sale process?
- Much of the delay in leasehold conveyancing in Brecon can be avoided if you get in touch lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers’ solicitors. The majority of landlords or managing agents in Brecon charge for providing management packs for a leasehold premises. You or your lawyers should find out the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Brecon. If you have had any disputes with your freeholder or managing agents it is essential that these are resolved prior to the flat being put on the market. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is clearly preferable to present the dispute as historic rather than ongoing. A minority of Brecon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
Brecon Leasehold Conveyancing - A selection of Questions you should consider before buying
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How many years remain on the lease? You should be aware that where the lease has no more than eighty years it will have adverse implications on the marketability of the property. It is worth checking with your bank that they are willing to lend given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and you need to have some idea of what this would cost. For most Breconlease extensions you will need to own the property for 24 months before you are legally able to extend the lease. The answer will be helpful as a) areas can cause problems for the block as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have an issue with the running of the building you will wish to have complete disclosure
Are there any apps to help find a Brecon conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 20miles to meet the conveyancer.
You can use the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Brecon and you will see a number of lawyer located nearest Brecon. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.