We are purchasing a 2 bedroom flat in Hengoed with a mortgage. We would like to retain our Hengoed conveyancer, but the bank advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Hengoed conveyancing practitioner and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. 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. A further alternative is for your Hengoed conveyancing solicitor to apply to be on the conveyancing panel.
I am the registered owner of a freehold residence in Hengoed yet invoiced for rent, why is this and what is this?
It is rare for properties in Hengoed and has limited impact for conveyancing in Hengoed but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
My home in Hengoed is up for sale and I have a buyer. Does my conveyancer have to be required to be on the Yorkshire BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
Will my conveyancer be raising questions about flooding during the conveyancing in Hengoed.
Flooding is a growing risk for solicitors specialising in conveyancing in Hengoed. Some people will purchase a house in Hengoed, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a numerous searches that may be undertaken by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Hengoed. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to find out whether the premises has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a buyer could bring a claim for damages as a result of such an misleading reply. The purchaser’s conveyancers may also carry out an environmental search. This should indicate whether there is any known flood risk. If so, further inquiries will need to be conducted.
How does conveyancing in Hengoed differ for newly converted properties?
Most buyers of new build or newly converted property in Hengoed contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Hengoed 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 Hengoed or who has acted in the same development.
I see that you have a post code search directory identifying law firms on the lender conveyancing panel. Do Hengoed conveyancing companies pay you a referral fee if I appoint them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Hengoed.