I am not well enough to travel far from Rudry. Can you please clarify why all Rudry conveyancing practitioners aren't automatically on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies culling a number of firms off their official list of approved lawyers .
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Rudry so that I can pop in to their offices if required.
Most approved lawyers for lenders undertake the vast majority of communications via Royal Mail, e-mail or over phone calls. This enables them to carry out the legal work for your home move no matter where you live in England or Wales. However you can see if you can still book an appointment to visit conveyancing lawyer if you prefer.
My uncle pointed out to me me that in purchasing a property in Rudry there may be various restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Rudry which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Rudry should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to exchange contracts on my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Lloyds are being a right pain. The Rudry solicitor who is on the Lloyds conveyancing panel is recommending indemnity insurance as a solution but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds 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.
My offer on a detached house in Rudry has been accepted, but there is a chain. The vendors have offered on somewhere, but it’s not been accepted yet, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Rudry. What do I do now? At what point do I apply for the mortgage with TSB?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is approx £1k, then survey, Rudry conveyancing search charges, etc). The first course of action is to check that your conveyancer is on the TSB conveyancing panel. Concerning the subsequent steps this very much dictated by the uniqueness of your transaction, motivation for this property and on the state of the market. During a hot market some home buyers would apply for a home loan with TSB and pay for the valuation and only if it was satisfactory would they request their lawyer to press on with the conveyancing in Rudry.
My wife and I are intent on selling our property in Rudry and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Rudry lawyer would know this is not the case. It does beg the question why the buyers are using an online conveyancing outfit rather than a conveyancing solicitor in Rudry. We have lived in Rudry for 5 years we know that this is a non issue. Do we get in touch with our local Authority to obtain confirmation need.
It sounds as though you may have a conveyancing lawyer currently acting for you. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Rudry differ for newly converted properties?
Most buyers of new build premises in Rudry approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is built. This is because house builders in Rudry usually purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Rudry or who has acted in the same development.
We are midway through buying a house in Rudry. Conveyancing lawyer has told us the title is "Leasehold". Does this impact our HSBC valuation?
Rudry conveyancing does not in most situations involve leasehold houses. The main consideration here is the unexpired lease term and the ground rent. If there are over a hundred years remaining with a nominal rent, it's essentially freehold, so it’s unlikely to impact the saleability significantly.
At the other end of the spectrum, if it's, say, fifty five years it will have a material impact on the value, and most likely wouldn't be mortgageable. The length of lease and ground rent will be specified in the lease to be supplied to your conveyancing practitioner.