We are acquiring a brand new flat in Llantarnam and my lawyer is telling me that she is duty bound to the lender to disclose incentives from the seller. The Estate Agents are hassling me to exchange contracts and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Please explain the implications if my solicitor is removed from the Skipton Conveyancing panel ahead of completing my conveyancing in Llantarnam?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Will my solicitor be raising enquiries about flooding as part of the conveyancing in Llantarnam.
Flooding is a growing risk for lawyers dealing with homes in Llantarnam. Some people will purchase a property in Llantarnam, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or sell the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous searches that may be initiated by the purchaser or by their conveyancers which can give them a better understanding of the risks in Llantarnam. The conventional set of property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard question of the owner to find out if the property has suffered from flooding. If flooding has previously occurred and is not disclosed by the seller, then a buyer may issue a compensation claim as a result of such an misleading reply. A purchaser’s solicitors will also conduct an enviro report. This should disclose if there is any known flood risk. If so, additional inquiries will need to be initiated.
I used Arc property Solicitors several years ago for my conveyancing in Llantarnam. I now require my file however the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Llantarnam of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Llantarnam differ for newly converted properties?
Most buyers of new build residence in Llantarnam come to us having been asked by the seller to exchange contracts and commit to the purchase even before the property is completed. This is because new home sellers in Llantarnam usually 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 property lawyers 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 used to new build conveyancing in Llantarnam or who has acted in the same development.
I need to instruct a conveyancing solicitor in Llantarnam for my remortgage. Can I see a solicitor's record with the legal regulator?
One may search for documented Solicitor Regulator Association (SRA) determinations arising from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could monitor call for training purposes.