I am selling my maisonette in St Clears and the EA has just called to advise that the buyers are appointing a new law firm. The excuse is that the bank will only work with solicitors on their conveyancing panel. Why would a leading lender only engage with certain solicitors rather the firm that they want to select for their conveyancing in St Clears ?
Mortgage companies have always had an approved set of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions justify this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. No lender will say 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. 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 sway in the decision.
My wife and I are purchasing a apartment in St Clears. It might be a silly question but how we can trust a solicitor? On completion day we will need to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is there a list of Lloyds panel conveyancers in St Clears on the Building Society Association’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings visible online. If you are seeking to appoint a St Clears conveyancer on the Lloyds please make the most of our tool.
After shopping around on the internet I have found a St Clears conveyancing practitioner having checked that they are on the Skipton conveyancing panel. Does my lawyer arrange the survey of the property?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own St Clears surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
We are purchasing a property and the solicitor has identified Chancel Repair to which the house may be obligated to pay because it falls into the area of such a church. He has recommended insurance. Is this really warranted for conveyancing in St Clears
Unless a prior acquisition of the premises took place after 12 October 2013 you can assume that conveyancing practitioners carrying out conveyancing in St Clears to remain recommending a chancel search and or insurance against a claim.
I am looking for a leasehold apartment up to £235,500 and identified one round the corner in St Clears I like with amenity areas and railway links nearby, the downside is that it's only got 49 years on the lease. There is not much else in St Clears for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan that many years will be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you could request that they start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this matter.
I need to appoint a conveyancing solicitor for sale conveyancing in St Clears. I have stumble across a web site which seems to have the ideal solution If there is a chance to get all the legals done via web that would be ideal. 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?
My lawyers in St Clears have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the bank Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.