I am in the process of selling my ground floor flat in Penllergaer and the estate agent has just telephoned to say that the purchasers are switching solicitor. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their approved list. Why would a big named mortgage company only work with specific lawyers rather the firm that they want to appoint for their conveyancing in Penllergaer ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. 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 sway in the decision.
Due to complete my purchase in Penllergaer next Friday. My lawyer now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the mortgage company expect the insurance to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not specific to conveyancing in Penllergaer.
I just acquired a house at auction in Penllergaer. Conveyancing is needed. What happens now?
Given that you have now for in every practical sense signed on the dotted line you must hire the services of a conveyancing solicitor quickly as you are faced with a fast approaching a fixed date to complete the property. All auction property will have an associated legal set of papers. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the auction papers may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You should give this to the lawyer working for you at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete on the date specified in the contract.
Is it the case that all Penllergaer solicitor firms on the TSB conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be governed by the SRA. The majority of mortgage companies do allow licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
My offer was accepted on an apartment in Penllergaer on 10/1/2025, valuation was booked 4 days later, all came back fine. Property lawyer appointed, so all that was missing was my mortgage offer. Having made daily calls to Nationwide and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Nationwide conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.
I need some quick conveyancing in Penllergaer as I have a deadline to sign on the dotted line within 4 weeks. Fortunately I do not require a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are not obtaining a mortgage you are at free not to do searches although no lawyer would recommend that you don't. With lots of history conveyancing in Penllergaer the following are examples of issues that can crop up and therefore affect future saleability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Road Schemes,...
Despite weeks of looking the Title Certificate and documents to my home are lost. The conveyancers who dealt with the conveyancing in Penllergaer 10 years ago are no longer around. What are my next steps?
Gone are the days when you need to have the physical official documentation to evidence that you are the registered proprietor of land or property, as the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Penllergaer differ for newly converted properties?
Most buyers of new build residence in Penllergaer come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because developers in Penllergaer typically acquire the site, 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 Penllergaer or who has acted in the same development.