I am in the process of selling my home in Neath and the estate agent has just text me to say that the buyers are changing their law firm. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a major mortgage company only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Neath ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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 buyers are not going to have any impact on this.
How up to date is your database of Neath solicitors on the Nationwide conveyancing panel? Do Nationwide send you an updated list?
Neath conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.
Will our lawyer be raising questions concerning flooding during the conveyancing in Neath.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Neath. There are those who buy a property in Neath, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that can be undertaken by the purchaser or on a buyer’s behalf which will figure out the risks in Neath. The conventional set of completed inquiry forms supplied to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to discover whether the premises has historically flooded. If the property has been flooded in past and is not disclosed by the owner, then a buyer may bring a legal claim for losses as a result of such an inaccurate response. A buyer’s solicitors should also conduct an environmental search. This should higlight whether there is a recorded flood risk. If so, more detailed investigations will need to be initiated.
I'm remortgaging my current house to a BTL mortgage with Barnsley Building Society and I will use the rest of the raised equity towards another house. The location we are talking about is Neath. Will your solicitors be able to act for the two banks and tie in the transactions?
Make use of our comparison tool on this site to be sure that the solicitors are approved by both banks. Having checked that they are the solicitor will be able to simultaneously deal with the two deals but you should talk with you lawyer and specify your expectations and needs.
Should I go with a Neath conveyancing lawyer based in the vicinity that I am hoping to buy? We have a good friend who can execute the conveyancing but his firm is located 200miles drive away.
The benefit of a high street Neath conveyancing practice is that you can attend the office to execute documents, present your ID and pester them if necessary. They will also have local insight which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and they were content that must trump using an unknown Neath conveyancing solicitor just because they are round the corner.
Jane (my partner) and I may need to let out our Neath basement flat temporarily due to taking a sabbatical. We instructed a Neath conveyancing firm in 2001 but they have closed and we did not have the foresight to get any guidance as to whether the lease allows us to sublet. How do we find out?
A small minority of properties in Neath do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to review references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Neath Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
-
It is important to be aware whether fixing the lift or some other major work is pending to be shared between the leaseholders and will materially impact the level of the maintenance charges or require a specific payment. For most Neath leaseholds the cost for major works are not included within service charges, albeit that some managing agents in Neath require leaseholders to contribute towards a reserve fund created for the specific purpose of establishing a fund for major works.