I am nearing exchange of contracts for my apartment in Talsarnau and the estate agent has just e-mailed to say that the buyers are appointing a new law firm. I am told that this is due to the fact that the lender will only engage with solicitors on their conveyancing panel. On what basis would a major lender only work with specific lawyers rather the firm that they want to choose to handle their conveyancing in Talsarnau ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Banks blame a rise in fraud by way of justification for the cull – criteria have been narrowed 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 buyers are unlikely to have any impact on this.
Can I use your services to find a Conveyancing solicitor in Talsarnau even where I’m not buying or disposing of a house, for example where I intend to buy a shop in Talsarnau with a mortgage from Platform Home Loans Ltd?
The service is primarily used to get a quote from residential conveyancing solicitors in Talsarnau but we have recorded at the bottom of this page some Talsarnau commercial conveyancing firms. You will need to make contact with the solicitors directly to check if they can also act for Platform Home Loans Ltd
Is there a list of Coventry BS panel solicitors in Talsarnau on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few lending institutions make their panel listings visible over the internet. If you are looking for a Talsarnau solicitor on the Coventry BS please use our tool.
Two weeks ago we had a mortgage agreed in principle with RBS. Talsarnau conveyancing practitioners were instructed. How long does it take for RBS to forward the offer to the property lawyer?
Some lenders take longer than others. Have RBS conducted the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We were going to get a OIP from TSB this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do TSB recommend any Talsarnau solicitors on the TSB conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Talsarnau solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
A friend recommended that where I am buying in Talsarnau I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes quoted for as part of the standard Talsarnau conveyancing searches. It is a large document of more than thirty pages, listing and detailing significant information about Talsarnau around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Talsarnau.
I am buying my first flat in Talsarnau with a loan from Leeds Building Society. The developers would not move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not inform my solicitor about this extras as it could adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My wife and I purchased a leasehold house in Talsarnau. Conveyancing and Alliance & Leicester mortgage organised. I have received a letter from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1998. The conveyancing solicitor in Talsarnau who previously acted has long since retired. Any advice?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a Talsarnau conveyancing firm to do this as it can be done on-line for a few pound. Rest assured that regardless, even if this is the rightful landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I acquired a basement flat in Talsarnau, conveyancing was carried out August 1998. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Talsarnau with a long lease are worth £186,000. The ground rent is £55 per annum. The lease comes to an end on 21st October 2077
With only 52 years left to run we estimate the premium for your lease extension to range between £29,500 and £34,000 as well as costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure in the absence of detailed investigations. You should not use this information in a Notice of Claim or as an informal offer. There may be additional concerns that need to be considered and you obviously should be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.