I am one month into the sale of my house in Tredegar and the estate agent has just e-mailed to warn that the purchasers are changing their conveyancer. I am told that this is due to the fact that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major mortgage company only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Tredegar ?
Banks have always had panels of law firms they are content to work with, but in the past 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 25 years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any sway in the decision.
Do the conveyancing lawyers listed on your site conduct attended exchange conveyancing in Tredegar?
We do have a number of conveyancing specialists carrying out one day exchanges. You should e-mail us to receive a conveyancing quote and details as to availability.
Why is leasehold purchase conveyancing in Tredegar is more expensive?
Tredegar leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
A friend advised me that where I am purchasing in Tredegar I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Tredegar conveyancing searches. It is a large document of more than thirty pages, listing and setting out significant information about Tredegar around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding Tredegar.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Tredegar is the location of the property. Can you shed any light on this issue?
Flying freeholds in Tredegar are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tredegar you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tredegar may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My step-father has urged me to use his conveyancing solicitors in Tredegar. Should I find my own property lawyer?
Much as we are happy to recommend a Tredegar conveyancing lawyer the ideal way to find a conveyancing lawyer is to get guidance from friends or relatives who have used the firm that you are considering.