I am nearing exchange of contracts for my flat in Radyr and the estate agent has just text me to say that the buyers are changing their property lawyer. The reason given is that the lender will only engage with property lawyers on their conveyancing panel. On what basis would a major mortgage company only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Radyr ?
Lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms 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. The purchasers are unlikely to have any impact on this.
When will exchange of contracts take place for domestic conveyancing in Radyr and do I need to attend the lawyers branch?
Where you are local to our conveyancing solicitors in Radyr you are invited in to sign the paperwork. That being said, the law practices we recommend offer a countrywide conveyancing service and give as equally diligent and professional a job for you when dealing with you by post or email. The signing of the sale agreement is not when everything is set in stone. Signing on the dotted line is necessary for the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Radyr)to be in the office available at the end of the phone to exchange contracts.
I bought my house on 5 February and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Radyr advises it should be dealt with in a couple of weeks. Are transfers in Radyr uniquely lengthy to register?
As far as conveyancing in Radyr registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. At present roughly 80% of submission are fully dealt with in less than three weeks but some can be subject to protracted delays. Registration takes place after the purchaser has moved in to the premises so an expedited registration is not typically primary concern but where it is urgent that the the registration takes place urgently then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one near me in Radyr I like with amenity areas and transport links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Radyr in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
In sourcing the world wide web for the term conveyancing in Radyr it shows results of many conveyancersin the vicinity. With so much choice what is the best way to find the suitable solicitor for me?
The preferential method of finding the right conveyancer is via trusted recommendation, so enquire of colleagues and those you trust who have purchased a property in Radyr or a respected estate agent or financial adviser. Fees for conveyancing in Radyr vary, so it's advisable to obtain a minimum of four fee estimates from different law firms. Be sure to obtain confirmation that the charges are guaranteed not to to be inflated.
Is it true that a Radyr conveyancing company got sued by a client for not carrying out the right conveyancing investigations?
We are not aware of such a Radyr conveyancing matter but it has been reported that, clients buying a home in Cumbria successfully won a claim against their solicitor as a consequence of development permission to construct a wind farm not being identified in conveyancing searches.
Where you are purchasing in Radyr It is important that your lawyer purchase all Radyr conveyancing searches needed to ensure you have accurate and up to date information ahead of purchasing a property.