My husband and I are hoping to purchase a house in Penyffordd and are in fact using a Penyffordd conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Britannia have this morning contacted us to advise us that they have now hit a problem as our Penyffordd solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Penyffordd lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Our Penyffordd conveyancer has uncovered a discrepancy between the information in the home valuation report and what is revealed within the conveyancing documents. My lawyer informs me that he is duty bound to check that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s stance correct?
Your conveyancer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
What happens if my solicitor is removed from the Virgin Money Solicitor panel ahead of completing my conveyancing in Penyffordd?
The first thing to point out is that, 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.
Can I be sure that the Penyffordd conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Penyffordd getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your transaction.
I am purchasing a property in Penyffordd. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nationwide be concerned?
As you are obtaining a mortgage with Nationwide your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Nationwide. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to Nationwide where a lease does not satisfy these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Penyffordd.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, UBS are being pedantic. The Penyffordd solicitor who is on the UBS conveyancing panel is saying indemnity insurance will be fine but UBS are insisting on a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS 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 used Stirling Law a few years ago for my conveyancing in Penyffordd. I now require my file however cannot find the solicitor. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Penyffordd of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
In what way does the Landlord & Tenant Act 1954 impact my commercial premises in Penyffordd and how can you help?
The particular law that you refer to provides a safeguard to business lessees, giving them the right to make a request to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Penyffordd