Is it correct that all Newport CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
Some major lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
When it comes to mortgage companies such as Aldermore, do Newport solicitors face a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I have decided to exercise my right to buy my property in Newport off the council. I have a mortgage offer with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
I'm purchasing a new build house in Newport with the aid of help to buy. The builders refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not to tell my lawyer about the side-deal as it would impact my mortgage with Bank of Ireland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Is it possible to swap conveyancer as I need to instruct one who is on the Yorkshire Building Society conveyancing panel. I was using a high street conveyancing solicitor in Newport five minutes from me but the firm is not accepted by Yorkshire Building Society
It would be our pleasure to help you find a conveyancing solicitor in Newport on the Yorkshire Building Society panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Newport. In making use of the find a conveyancing solicitor tool on this website, you can compare and instruct different solicitors and conveyancers both nationally and in Newport.
Should I use a Newport conveyancing lawyer who is local to the property I am purchasing? An old friend can deal with the legal work but they are based a couple of hundredmiles away.
The primary upside of using a high street Newport conveyancing practice is that you can drop in to execute paperwork, deliver your identification documents and apply pressure on them where appropriate. They will also have local knowledge which is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust instructed your friend and they were content that should trump using an unfamiliar Newport conveyancing solicitor just because they are local.
Last January I purchased a leasehold house in Newport. Do I have any liability for service charges relating to a period prior to completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I acquired a ground floor flat in Newport, conveyancing was carried out in 2009. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent flats in Newport with an extended lease are worth £197,000. The ground rent is £55 charged once a year. The lease comes to an end on 21st October 2079
With only 54 years unexpired we estimate the price of your lease extension to span between £32,300 and £37,400 as well as professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure without more comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. You should not take any other action based on this information without first getting professional advice.
Are Newport conveyancing solicitors duty bound by the Law Society to publish clear conveyancing figures?
Contained within the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be interpreted as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, constitute the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Newport or beyond.