I can't travel far from Cyncoed. What is the rationale as to why all Cyncoed conveyancing practitioners are not on all mortgage company panels?
Lenders normally restrict either the type or volume of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a practice needs to have at least two partners. In addition to restricting the nature of firm, some banks such as HSBC made a decision to restrict the size of their panel they use to act for them. You should note that building societies have no accountability for the standard of advice given by any Cyncoed lawyer on their approved list. Increases in mortgage fraud was the main trigger for the culling of solicitor panels a few years ago notwithstanding that there are contrary thoughts about the extent of solicitor involvement in some of that fraud. Statistics published by HMLR indicates that thousands of law firms only transact a couple of conveyances annually. Those supporting conveyancing panel consolidation ask why law firms should have any entitlement to be on a lender panel when clearly conveyancing is not their speciality?
I am assisting my sister sell her house in Cyncoed. Will the conveyancer commission the EPC or it is for the owner to see to?
After the demise of Home Information Packs, energy assessments was left as a required component of selling a house. An EPC should be commissioned in advance of the property being placed on the market. It is not as aspect of the sale process that conveyancers ordinarily arrange. Where you are instructing a Cyncoed conveyancing practitioner they may help arrange EPC’s due to their relationships with long established Cyncoed providers
My husband and I have organised the release of further monies on our mortgage from Skipton as we intend to carry out renovations to our house in Cyncoed. Do we need to appoint a bricks and mortar Cyncoed solicitor on the Skipton conveyancing panel to handle the paperwork?
Skipton do not ordinarily instruct firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton conveyancing panel.
I had an offer accepted on a property in Cyncoed on 31/10/2024, valuation was booked 2 days after, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Aldermore and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Aldermore conveyancing panel. Are Aldermore entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
Should my lawyer be raising questions concerning flooding as part of the conveyancing in Cyncoed.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Cyncoed. Plenty of people will buy a property in Cyncoed, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their conveyancers which will give them a better appreciation of the risks in Cyncoed. The standard information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to find out whether the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the vendor, then a purchaser may commence a claim for damages as a result of such an inaccurate response. A buyer’s lawyers may also conduct an enviro search. This will indicate whether there is any known flood risk. If so, further investigations will need to be carried out.
I'm buying my first flat in Cyncoed benefiting from help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about the extras as it could adversely affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey carried out on a property in Cyncoed before appointing lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend not issue a mortgage on a flying freehold house.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to call us we can investigate further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cyncoed. Conveyancing may be slightly more expensive based on your lender's requirements.
Can you offer any advice when it comes to appointing a Cyncoed conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Cyncoed conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you speak with two or three firms including non Cyncoed conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
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How experienced is the practice with lease extension legislation? If they are not ALEP accredited then why not?
Cyncoed Leasehold Conveyancing - Examples of Queries Prior to Purchasing
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Is the freehold reversion owned jointly by the tenants? How long is the Lease? How much is the service charge and ground rent on the flat?