I am 3 weeks into the sale of my maisonette in Roath and the EA has just e-mailed to advise that the buyers are swapping conveyancer. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a major lender only engage with certain solicitors rather the firm that they want to choose to handle their conveyancing in Roath ?
Lenders have always had panels of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders blame 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 being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
Can conveyancing in Roath to be concluded inside 28 days?
In a situation where you are under a tight deadline for your conveyancing it is advisable to make sure that your solicitor is familiar with the area as they will benefit local relationships and insight. It is even conceivable that they could have handled previoushouses in the same road. Therefore consider using a Roath conveyancing solicitor. Second, be sure that the conveyancing firm is on the lender panel. It is understood that 18% of Roath conveyancing transactions are suspended or jeopardised after discovering a purchaser’s solicitor was not on their banks list of approved solicitors. In many cases this discovery resulted in the conveyancing being held up by as much as 21 days. It is said that this issue impacts in the region of one hundred thousand home moves every year. Many Roath conveyancing firms can not represent certain mortgage companies so do check at the outset.
is it true that all Roath solicitor firms on the Yorkshire BS conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Yorkshire BS conveyancing panel they would need to be governed by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
My offer was accepted on a house in Roath on 15/6/2026, valuation was booked 3 days later, received a clean bill of health. Property lawyer instructed, so all that was missing was my mortgage offer. Having made daily calls to Coventry BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Coventry BS conveyancing panel. Can the lender hold off the offer?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Clydesdale have agreed my mortgage in principle, my offer on a flat in Roath has been agreed to, now what?
Your estate agent will want to be advised as to your conveyancing practitioner's details (ensure that the property lawyers are on the bank’s approved list). Call up Clydesdale or the financial adviser and finalise any appropriate forms. Clydesdale will sellect a valuer who will get in touch with the selling agent or seller to schedule an appointment. Once carried out (assuming no problems) it takes about a fortnight for the mortgage offer to be issued. Clydesdale will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Roath.
I am a sole trader hoping to lease a unit on the high street. Can you recommend lawyers offering no-move-no costs for non-domestic conveyancing in Roath for below £2000?
We can recommend firms who have specialist knowledge of commercial conveyancing in Roath, including the disposal and purchase of businesses as well as simply property. If you are looking to acquire or lease a shop, pub, restaurant, office, retail premises or a whole business we can put you in touch with the right firm. As for the charges this will depend on the structure and heads of terms of the proposed transaction. Let us have your details or telephone so as to enable us to supply you with a fixed commercial conveyancing quote.
I need to appoint a conveyancing solicitor for leasehold conveyancing in Roath. I happened to chance upon a web site which appears to be the ideal solution If it is possible to get all this stuff done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any advice for leasehold conveyancing in Roath from the perspective of saving time on the sale process?
- A significant proportion of the delay in leasehold conveyancing in Roath can be reduced if you get in touch lawyers as soon as you market your property and ask them to put together the leasehold information needed by the buyers’ solicitors. Many freeholders or Management Companies in Roath levy fees for providing management packs for a leasehold home. You or your lawyers should discover the fee that they propose to charge. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Roath. If you hold a share in a the freehold, you should ensure that you hold the original share certificate. Obtaining a replacement share certificate can be a time consuming process and frustrates many a Roath home move. Where a new share is required, do contact the company officers or managing agents (if relevant) for this sooner rather than later. Some Roath leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their solicitors.
I own a 1 bedroom flat in Roath, conveyancing was carried out in 2000. Can you please calculate a probable premium for a statutory lease extension? Comparable flats in Roath with a long lease are worth £265,000. The average or mid-range amount of ground rent is £50 charged once a year. The lease expires on 21st October 2101
With just 75 years unexpired we estimate the price of your lease extension to range between £8,600 and £9,800 plus plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for renewing a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. You should not use the figures in tribunal or court proceedings. There may be other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.