I am not well enough to travel far from Port Talbot. I would like to know the reason why all Port Talbot lawyers are not on all mortgage company panels?
A decade ago most mortgage companies demonstrated an attitude to risk which differs from the current day. The financial regulator in 2010 conducted a thematic review into fraud which concluded: know the lawyers on your panel. Accordingly, mortgage companies have since looked to extract more data from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Many firms have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the criteria of amount of transactions the mortgage companies insisted on.
I own a freehold house in Port Talbot but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Port Talbot and has limited impact for conveyancing in Port Talbot but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
How can we know in advance if a Port Talbot conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Port Talbot seeking 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 recommend that you speak with the solicitor handling your conveyancing.
Last month we had a mortgage agreed in principle with Leeds Building Society. Port Talbot conveyancing solicitors were instructed. How long does it take for Leeds Building Society to issue the offer to the conveyancer?
Some lenders take longer than others. Have Leeds Building Society done the survey? Have you informed Leeds Building Society as to your lawyers' details and checked that your lawyers are on the Leeds Building Society conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I recently had an offer accepted on a house in Port Talbot. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £150. A few days later, the conveyancer contacted me embarrassingly acknowledging that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who handled the conveyancing in Port Talbot 5 years ago no longer exist. What do I do?
Gone are the days when you need to have the physical official documentation to prove you are the owner of your registered land or property, given that the Land Registry hold details of all registered land or property electronically.
I decided to have a survey carried out on a property in Port Talbot prior to instructing lawyers. I have been informed that there is a flying freehold element to the property. My surveyor advised that some lenders will not issue a mortgage on this type of home.
It varies from the lender to lender. Santander has different requirements from Halifax. If you contact us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Port Talbot. Conveyancing will be smoother if you use a solicitor in Port Talbot especially if they are acquainted with such properties in Port Talbot.
Is it best to choose a Port Talbot conveyancing solicitor who is local to the property I am purchasing? We have a good friend who can conduct the conveyancing however her office is 300kilometers away.
The benefit of a high street Port Talbot conveyancing practice is that you can visit the firm to sign paperwork, hand in your ID and apply pressure on them if necessary. Having local Port Talbot know how is a benefit. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and in the main were happy that must outweigh using an unknown Port Talbot conveyancing lawyer just because they are round the corner.