I am nearing exchange of contracts for my home in Bryncoch and the EA has just called to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their approved list. Why would a big named mortgage company only deal with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Bryncoch ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. 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. Plenty of firms 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 not going to have any impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Bryncoch? Why is this being asked of me?
Anti-terror and anti-money-laundering laws require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you are required to sign should reaffirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to provide identification documents, your conveyancer would not be able to accept instructions from you.
I am buying a flat and need a conveyancing solicitor in Bryncoch who is on the Nationwide Building Society conveyancing. 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 listed as being on the approved conveyancing panel for Nationwide Building Society in certain locations such as Bryncoch. We dont recommend any particular firm.
My wife and I are purchasing a property in Bryncoch. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to put our life savings into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am helping my niece sell her house in Bryncoch. Does the conveyancer arrange an energy performance certificate or should I organise this?
Following the demise of Home Information Packs, energy performance certificates was maintained a compulsory element of moving property. An EPC should be commissioned before the property is marketed. This is not something that lawyers ordinarily organise. Where you are instructing a Bryncoch conveyancing solicitor they may be willing to arrange EPC’s due to their contacts with long established Bryncoch providers
My bid for a property was accepted at auction in Bryncoch. Conveyancing is necessary. What are my next steps?
Now that you are legally committed yourself to purchase you will need to choose a conveyancing solicitor soon as you are facing a pending deadline in which to complete the transaction. Every auction property will ordinarily have a bespoke auction set of papers. This will include most,if not all of the documents that your solicitor requires. In the case of leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are in place to complete on the on the contractual date .
What will a local search tell me regarding the property I am buying in Bryncoch?
Bryncoch conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search company for example Onsearch The local search plays an important role in many a Bryncoch conveyancing purchase; as long as you don’t want any unpleasant surprises after you move into your new home. The search should reveal data on, amongst other things, details on planning applications applicable to the property (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 thirteen topic sections.
Two months into a sale of a flat in Bryncoch. Conveyancing is fine but we are being charged an extortionate amount from the managing agents. So far we have paid £250 for a leasehold management information and then another £117.20 for supplemental questions supplied by the purchaser's property lawyer.
Neither you or your conveyancing practitioner will have any control over the extent of the bill for this information but the typical fee for the information for Bryncoch leasehold premises is £395. For Bryncoch conveyancing deals it is usual for the vendor to pay for these costs. The freeholder or their agents are not duty bound to answer such questions although many will be content to do so - albeit often at high prices out of proportion to the work involved. Regretfully there is no law that mandates fixed fees for administrative tasks. There is no prescriptive time frame by which they are required to provide the information.