I am in the process of selling my maisonette in Llandaff and the estate agent has just text me to advise that the purchasers are appointing a new law firm. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with certain law firms rather the firm that they want to select to handle their conveyancing in Llandaff ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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 purchasers are unlikely to have any impact on this.
is it true that all Llandaff conveyancing solicitors on the Kent Reliance conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in such a situation the organisation would be regulated by the Council of Licensed Conveyancers.
How can we know in advance if a Llandaff conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Llandaff obtaining recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the solicitor conducting your transaction.
I am expecting a AIP from Coventry BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Llandaff solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Llandaff solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I was advised by a few estate agents in Llandaff to locate a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to market your services over and above another?
We don’t give any financial incentive for directing people our way. We found it would be just too difficult to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
I am using a search engine for the term conveyancing in Llandaff it shows results of numerous solicitorslocally. How do I determine which is the suitable solicitor for me?
The best method of finding a suitable conveyancer is through a trusted testimonial, so ask colleagues and family who have acquired a property in Llandaff or a respected estate agent or financial adviser. Fees for conveyancing in Llandaff differ, so it's sensible to secure at least three estimates from different property lawyers. Dont forget to clarify what costs in the quote includes.
I am in need of some leasehold conveyancing in Llandaff. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.
If the lease is registered - and 99.9% are in Llandaff - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a 1 bedroom flat in Llandaff, conveyancing was carried out March 1995. Can you shed any light on how much the price could be for a 90 year extension to my lease? Comparable properties in Llandaff with over 90 years remaining are worth £206,000. The ground rent is £45 invoiced annually. The lease ends on 21st October 2091
With 66 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not take any other action based on this information before seeking the advice of a professional.
Do online conveyancing companies undertake everything a high street Llandaff solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Llandaff?
If you use an online conveyancer they will cover all the work your Llandaff solicitor would cover.