Is the fact that my solicitor in Morriston is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume 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. Should you be concerned you should contact the Morriston conveyancing firm and ask them why they are no longer on the approved list for your bank.
What happens if my solicitor is suspended from the Nationwide Solicitor panel ahead of completing my conveyancing in Morriston?
First, this is a very rare occurrence. 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 for a fee.
Is there a list of Coventry BS panel solicitors in Morriston on the Council of Mortgage Lender’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings viewable on the web. Where you are in need of a Morriston lawyer on the Coventry BS please make the most of our facility.
I am selling my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Coventry BS are being difficult. The Morriston solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Morriston lawyer having made sure that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Morriston postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Morriston.
Do I need to pay for insurance to protect me from financial exposure to chancel repairs when purchasing a residence in Morriston?
Unless a prior acquisition of the property took place after 12 October 2013 you can take it that conveyancing practitioners carrying out conveyancing in Morriston to remain recommending a chancel search and or chancel repair liability insurance.
How does conveyancing in Morriston differ for new build properties?
Most buyers of new build premises in Morriston approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is completed. This is because developers in Morriston typically buy the real estate, 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 used to new build conveyancing in Morriston or who has acted in the same development.
I am employed by a busy estate agent office in Morriston where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have received inconsistent advice from local Morriston conveyancing firms. Can you clarify whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Morriston Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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How long is the Lease? How much is the ground rent and service charge? It is important to be aware if fixing the lift or some other major work is coming up that will be shared by the leaseholders and will materially impact the level of the maintenance charges or result in a specific payment.