Am I correct in assuming that the fact that my conveyancer in Llandough is not on my lender's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Llandough conveyancing practice and ask them why they are no longer on the approved list for your bank.
Completed the sale of my flat in Llandough last October but the buyer keeps calling daily to say his conveyancer needs to hear from mine. What are the post completion sale legalities following completion?
Following your sale your solicitor is obliged to send the transfer documentation and all supplemental paperwork to the buyer’s lawyers. If applicable, your lawyer must also confirm that the legal charge in favour of the lender has been paid off to the purchasers lawyers. There is unlikely to be post completion procedures just for conveyancing in Llandough.
I had intended to instruct a property lawyer in Llandough for our home move. Our financial adviser informed us that our bank Chelsea Building Society won't deal with them. Why is this not regarded as unfair competition?
Pre- 2008 most mortgage companies had a different appetite for risk. Almost all Llandough conveyancing firms would have been on many bank panels. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Llandough conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Llandough is one of the numerous areas where the lawyers showing on our search results are are approved Chelsea Building Society.
I am the sole beneficiary of my late mum's will and I have everything in my name alone, including the house in Llandough. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the property in August. Will no one buy the property for half a year?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Some lenders would take a sensible view as this clause is principally there to identify the purchase and immediately sell or the quick reselling of property.
is it true that all Llandough conveyancing solicitors on the Kent Reliance conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel and in that case the firms would be overseen by the CLC.
I can not work out if my lender requires a lease extension. I have called my Llandough building society branch on numerous occasions and was informed it wasn't a problem and they would lend. My Llandough conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they would not lend in accordance with their specific requirements. I have no idea who is right.
As long as the lawyer is on the bank approved list, they must adhere to the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My friend recommended that if I am purchasing in Llandough I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually quoted for as part of the standard Llandough conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Llandough around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Llandough Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Llandough Education with maps and statistics, Local Amenities and other useful data concerning Llandough.
Am I right to be wary about estate agents that I am dealing with are suggesting a web based conveyancing firm rather than a local Llandough conveyancing company?
As is the case with many professional services, often referrals from connections can be extremely useful or valuable. Nevertheless there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and banks might all put forward lawyers to retain. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes commercial relationship behind the endorsement. You are free to select your preferred lawyer. However, bear in mind that many lenders specify a panel list of conveyancers you are obliged to use for the mortgage related work in your home move.