I am in the process of selling my home in Cardiff Bay and the estate agent has just text me to say that the buyers are appointing a new law firm. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. On what basis would a leading lender only deal with specific law firms rather the firm that they want to choose for their conveyancing in Cardiff Bay ?
Banks have always had an approved set of law firms that can act for them, 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 more than 15 years.
Lending institutions point to the increase in fraud by way of justification for the pruning – criteria have been stiffened 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 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. The buyers are unlikely to have any sway in the decision.
I used Arc property Solicitors a few years ago for my conveyancing in Cardiff Bay. Now, I need my documents however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Cardiff Bay of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am looking to sell my property. My previous conveyancers closed down. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Cardiff Bay if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Cardiff Bay. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
Am I best advised to choose a Cardiff Bay conveyancing lawyer who is local to the property I am buying? I have an old university friend who can execute the legal formalities however they are based a couple of hundredkilometers away.
The primary upside of using a local Cardiff Bay conveyancing firm is that you can attend the office to sign documents, deliver your identification documents and pester them if necessary. Having local Cardiff Bay know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and on the whole were content that must surpass using an unknown Cardiff Bay conveyancing lawyer solely due to them being local.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it more attractive. I have just discovered that it's a leasehold rather than freehold. I am assuming that there are particular concerns buying a house with a leasehold title in Cardiff Bay. Conveyancing advisers have are soon to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cardiff Bay ?
Most houses in Cardiff Bay are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer who is familiar with the area who can assist with the conveyancing process. It is clear that you are purchasing in Cardiff Bay in which case you should be shopping around for a Cardiff Bay conveyancing solicitor and be sure that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the freeholder’sconsent to conduct changes to the property. It may be necessary to pay a contribution towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.
I am the registered owner of a studio flat in Cardiff Bay, conveyancing formalities finalised 6 years ago. Can you work out an approximate cost of a lease extension? Corresponding flats in Cardiff Bay with a long lease are worth £180,000. The ground rent is £65 levied per year. The lease finishes on 21st October 2084
With 59 years unexpired we estimate the price of your lease extension to span between £20,900 and £24,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs in the absence of comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before getting professional advice.
I am buying a house and require a conveyancing solicitor in Cardiff Bay who is on the lender approved panel. Can you recommend a Cardiff Bay or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who carry out conveyancing in Cardiff Bay. We dont recommend any particular firm.