I am nearing exchange of contracts for my house in Pentraeth and the EA has just telephoned to warn that the purchasers are appointing a new law firm. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. Why would a major lender only work with certain lawyers rather the firm that they want to choose for their conveyancing in Pentraeth ?
UK lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders justify this action to a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal 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 purchasers are unlikely to have any sway in the decision.
As someone unfamiliar with the Pentraeth conveyancing process what’s your top tip you can give me concerning the legal transfer of property in Pentraeth
Not many law firms or advisers will tell you this but conveyancing in Pentraeth or throughout Isle Of Anglesey is often a confrontational experience. In other words, when it comes to conveyancing there exists plenty of opportunity for friction between you and other parties involved in the transaction. For instance, the seller, property agent and sometimes the bank. Appointing a lawyer for your conveyancing in Pentraeth an important selection as your conveyancer is your adviser, and is the ONE person in the transaction whose interest is to look after your best interests and to protect you.
We are witnessing a definite ongoing adversarial element to conveyancing- someone must be at fault for the process taking so long. You your first instinct should be to trust your lawyer above all other parties when it comes to the legal transfer of property.
Are the BSA intent on creating a searchable register to list firms on the Darlington Building Society conveyancing panel for instance in Pentraeth?
We are not aware of any intention on the part of the BSA to promote such a register.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Pentraeth?
Unless a previous purchase of the property took place post 12 October 2013 you could assume that lawyers conducting conveyancing in Pentraeth to remain encouraging a chancel search and or insurance against a claim.
Just had an offer accepted on a new build apartment in Pentraeth. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Pentraeth
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Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
We yesterday found out that one of the directors of the solicitors acting on the purchase conveyancing in Pentraeth is an aunty of the owners that we are purchasing from. Is this acceptable?
As long as there is no conflict of interest this is allowable. If you are obtaining a mortgage then the mortgage company may have a say as many lenders have specific instructions on this. For example for Coventry Building Society as of 8/5/2025, the requirements read as follows :