I am progressing with the sale of my maisonette in Ystrad Mynach and the EA has just text me to warn that the purchasers are appointing a new solicitor. The excuse is that the bank will only engage with solicitors on their approved list. On what basis would a major mortgage company only work with certain lawyers rather the firm that they want to choose to handle their conveyancing in Ystrad Mynach ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened 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. 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. Your buyers are unlikely to have any impact on this.
In reviewing moneysavingexpert.com for a recommended solicitor in Ystrad Mynach, most comment that I should instruct a CQS accredited solicitor. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing procedures through the scheme protocol the standard includes many organisations who handle conveyancing in Ystrad Mynach.
This question may be naive but I am unseasoned as a first time purchaser of a ground floor flat in Ystrad Mynach. Do I collect the keys to the property on the completion date from my conveyancer? If so, I will instruct a High Street conveyancing solicitor in Ystrad Mynach?
On the day of completion you do not need to go to the conveyancers office in Ystrad Mynach. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and once they have received this, you should be called to receive the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
My wife and I purchasing a terrace house in Ystrad Mynach. The intention is to carry out a loft conversion at the house.Will the conveyancing process involve enquiries to ascertain if these works are allowed?
Your property lawyer should check the deeds as conveyancing in Ystrad Mynach can sometimes reveal restrictions in the title deeds which prevent certain changes or necessitated the permission of another owner. Certain additions need local authority planning permissions and approval in compliance with building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Ystrad Mynach bank branch on numerous occasions and was reassured it wasn't an issue and they would lend. My Ystrad Mynach conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
As long as the conveyancing practitioner is on the lender approved list, they must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am downsizing from our home in Ystrad Mynach and according to the buyers it appears that there is a possibility that the property was built on contaminated land. Any local conveyancer would know that there is no such problem. It does beg the question why the purchasers used a factory type conveyancing firm as opposed to a conveyancing solicitor in Ystrad Mynach. We have lived in Ystrad Mynach for 5 years we know that this is a non issue. Should we get in touch with our local Authority to seek clarification need.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what should have been a straight forward, no chain conveyancing. Ystrad Mynach is the location of the property. Is there any advice you can impart?
Flying freeholds in Ystrad Mynach are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ystrad Mynach you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ystrad Mynach 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.
Am I best advised to choose a Ystrad Mynach conveyancing practitioner who is local to the property I am hoping to buy? I have an old university friend who can deal with the conveyancing however her office is over three hundred miles drive away.
The primary upside of using a local Ystrad Mynach conveyancing firm is that you can visit the firm to sign documents, present your identification documents and apply pressure on them if necessary. They will also have local intelligence which is a benefit. That being said it's more important to get someone that will do a good and efficient job. If you know people who instructed your friend and the majority were happy that must outweigh using an unknown Ystrad Mynach conveyancing solicitor just because they are round the corner.