I am progressing with the sale of my ground floor flat in Llantwit Fardre and the EA has just called to advise that the purchasers are switching solicitor. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their approved list. Why would a leading lender only work with specific lawyers rather the firm that they want to choose to handle their conveyancing in Llantwit Fardre ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say 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. Some 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 not going to have any sway in the decision.
Do the conveyancing solicitors listed on your site perform attended exchange conveyancing in Llantwit Fardre?
There are a few conveyancing specialists carrying out one day exchanges. Please e-mail us to get a fee calculation and details as to availability.
I purchased a freehold residence in Llantwit Fardre but nevertheless pay rent, why is this and what is this?
It is rare for properties in Llantwit Fardre and has limited impact for conveyancing in Llantwit Fardre 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
I am buying a terraced house in Llantwit Fardre. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Llantwit Fardre you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Llantwit Fardre.
I am 17 days into a leasehold purchase having been referred to solicitors by the selling agent to execute conveyancing in Llantwit Fardre. I am am extremely disappointed with the quality of service. Could you help me find new conveyancers?
A conveyancer would have to be very poor to suggest diss instructing them. Has your mortgage been generated? If so you need to inform them of the replacement lawyer and have the loan are re-sent. Your new solicitor ideally needs to be on the mortgage company panel to avoid escalating costs and frustration. That should be your first question of the new lawyers. Our search tool should assist you in finding a lender approved conveyancer for your home move in Llantwit Fardre
Should one as executor remove a departed person's details from the title register for a property in Llantwit Fardre?
Where a Llantwit Fardre property is jointly owned and one of the owners passes away, their name will not automatically be removed from the title deeds. You are not required to amend the title as when it comes to a sale your conveyancer would just need to supply proof why the co proprietor is missing from the contract, normally this takes the form of a grant of probate.
With a view to making things smoother for the sale of the property you may arrange to have the deceased party erased from the title by applying to HMLR with proof of the death. There is no land registry fee payable.