Is the fact that my conveyancer in Powys is not on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Powys conveyancing practice and enquire why they are no longer on the approved list for your lender.
My fiance and I wish to acquire a newbuild flat in Powys with a homeloan from Accord Mortgages Ltd.We use our Powys conveyancing practitioner but Accord Mortgages Ltd says he's not listed on their "panel". It seems we have no choice but to instruct a Accord Mortgages Ltd panel lawyer or retain our high street solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Accord Mortgages Ltd use our lawyer?
Unfortunately,no. The loan offered to you contains terms and conditions, a common one being that lawyers needs to be on the Accord Mortgages Ltd conveyancing panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Accord Mortgages Ltd
I have recentlybecome aware that Wolstenholmes have been shut down. They conducted my conveyancing in Powys for a purchase of a leasehold flat 18 months ago. How can I be sure that my home is registered correctly in the name of the former proprietor?
The quickest method to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Powys conveyancing specialists.
About to purchase a new build flat in Powys. Conveyancing is a frightening process 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 are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Powys
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are architect prepared. Please supply a car parking plan. 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 the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Powys is the location of the property. Can you offer any advice?
Flying freeholds in Powys are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Powys you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Powys may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I was recommended by two or three local estate agents in Powys to get a quote from a solicitor using your seach tool. Is there a financial upside for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We refuse to offer any referral fee for directing people in our direction. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.