Am I correct in assuming that the fact that my solicitor in Torfaen is not listed on my mortgage company's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Torfaen conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Can you help? My Torfaen solicitor is assuring me that he is legally obliged toorder Torfaen conveyancing searches becausethe firm are on the Lloydsconveyancing panel. These Torfaen searches cost a lot of money can this be avoided?
You have limited options available to you. Given that you are taking out a loan with a lender your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your solicitor would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Torfaen conveyancing searches.
We see that you have a search directory listing law firms on the Kent Reliance conveyancing panel. Do firms pay you a commission if I instruct them for our own conveyancing in Torfaen?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Torfaen.
I am due to exchange contracts on my house. I had a double glazing fitted in August 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Yorkshire BS are being a right pain. The Torfaen solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Torfaen solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC 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 Torfaen 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.
My offer on a house in Torfaen has been agreed to, the owners do however have a connected purchase. The sellers have offered on a flat, but it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a high street conveyancing solicitor in Torfaen. What do I do now? At what stage should I apply for the mortgage with Bank of Ireland?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is in the region of one thousand pounds, then survey, Torfaen conveyancing search costs, etc). First, you must check that your solicitor is on the Bank of Ireland conveyancing panel. Concerning the next stages this very much depends on the specifics of your case, attraction to the property and on the state of the market. During a hot market many purchasers will apply for the mortgage with Bank of Ireland and arrange for the valuation and only if it was satisfactory would they ask their conveyancer to proceed with the conveyancing in Torfaen.
We're first time buyers - agreed a price, yet the agent told us that the owners will only issue a contract if we use their recommended conveyancers as they want a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in Torfaen
We suspect that the owner is unaware of this ultimatum. Should the owner desire ‘a quick sale', alienating a motivated purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you are going to appoint your preferred Torfaen conveyancing solicitors - not the ones that will earn the negotiator at the agency a kickback or hit his conveyancing thresholds pre-set by senior management.
One month into buying a house in Torfaen. Conveyancing lawyer has told us the title is "Leasehold". Does this make a difference on our Santander valuation?
Torfaen conveyancing does not usually involve leasehold houses. The main consideration here is the remaining lease term and the ground rent. If there are hundred of years years remaining with a nominal rent, it's almost the same as freehold, so it’s unlikely to impact the marketability significantly.
At the other end of the spectrum, if it's, say, 50 years it will have a adverse impact on the saleability, and probably wouldn't be acceptable to the bank. The remaining lease term and ground rent will be set out in the lease provided to your lawyer.