We are buying a 1 bedroom apartment in Fishguard with a mortgage. We would like to retain our Fishguard lawyer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Fishguard conveyancing practitioner and pay for one of their panel ones to act for them. This seems very unfair; 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 Fishguard conveyancing solicitor to apply to be on the conveyancing panel.
The owners have rather assertive sellers who has insisted on a exclusivity contract with a payment two thousand pounds. Are such arrangements generally advanced for Fishguard conveyancing transactions?
There are two main concerns with signing a lock out agreement (sometimes referred to as a shut-out contract) is that it diverts attention away from making progress with the conveyancing work, so unless it requires minimal or no negotiation then it may transpire to be unhelpful. It is not particularly popular amongst Fishguard conveyancing lawyers for this reason. A supplemental issue is the extent of the remedies available - an aggrieved purchaser should not expect to win an injunction to prevent the owner completing the sale to a third party, so the only remedy available under the contract will be the reimbursement of abortive charges and, in rare scenarios, the extra payment of penalties.
A friend informed me that in purchasing a property in Fishguard there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are anumerous of properties in Fishguard which have some sort of restriction or requirement of consent to perform external changes. Part of the conveyancing in Fishguard should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Barclays. I assume I don't need a Fishguard conveyancer on the Barclays panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Barclays mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Barclays mortgage from the register. Barclays, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Barclays has sent the Land Registry the discharge electronically, and
- Barclays has instructed the Land Registry to do so
I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being pedantic. The Fishguard solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My relative recommended that if I am purchasing in Fishguard I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Fishguard conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Fishguard around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Fishguard Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Fishguard Education with plans and statistics, Local Amenities and other useful information about Fishguard.
How does conveyancing in Fishguard differ for new build properties?
Most buyers of new build property in Fishguard contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Fishguard typically purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Fishguard or who has acted in the same development.
I decided to have a survey done on a property in Fishguard prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some lenders tend refuse to issue a mortgage on this type of house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Fishguard. Conveyancing will be smoother if you use a solicitor in Fishguard especially if they are accustomed to such properties in Fishguard.