My wife and I are planning to purchase a flat in Snowdonia and are in fact using a Snowdonia conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Leeds Building Society have this evening contacted us to inform me that they have now hit a problem as our Snowdonia conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Snowdonia solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
When will exchange of contracts occur in domestic conveyancing in Snowdonia and do I need to attend the lawyers office?
Where you are local to one of the conveyancing solicitors in Snowdonia you are welcome to attend to sign the paperwork. However, the firms we work with provide a national conveyancing service and provide just as detailed and professional a job for you when communicating with you by post or email. The executing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the conveyancer to address the formalities when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Snowdonia)to be in the office at the appropriate time.
My wife and I have organised a further advance on our mortgage from Coventry BS as we want to carry out renovations to our property in Snowdonia. Do we need to appoint a nearby Snowdonia solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS would not normally instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
Two weeks ago we had a mortgage agreed in principle with Principality. Snowdonia conveyancing lawyers were selected. How long does it take for Principality to send the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Principality completed the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Aldermore have agreed my mortgage in principle, my bid on a flat in Snowdonia has been agreed to, what are the next steps?
Your estate agent will wish to be advised as to your conveyancing practitioner's details (make sure the lawyers are on the lender’s panel). Telephone Aldermore or your financial adviser and finish off any outstanding forms. Aldermore will sellect a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Aldermore will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Snowdonia.
I have been on the look out for a leasehold apartment up to £305k and found one near me in Snowdonia I like with amenity areas and railway links nearby, however it only has 52 years unexpired on the lease. There is not much else in Snowdonia suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a mortgage the remaining unexpired lease term may be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I am selling my home. My former conveyancers have shut. I am in need of a recommendation of a conveyancing firm. I happen to live in Snowdonia if that makes things easier.
You should use our search tool to help you find a solicitor for your conveyancing in Snowdonia. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
My cousin has suggested that I appoint his conveyancing solicitors in Snowdonia. Do I take his guidance?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek feedback from friends or relatives who have actually experience in using the solicitor you're considering.