I am selling my maisonette in Ystradgynlais and the EA has just called to advise that the purchasers are swapping solicitor. The reason given is that the lender will only deal with property lawyers on their approved list. On what basis would a major mortgage company only engage with certain law firms rather the firm that they want to select to handle their conveyancing in Ystradgynlais ?
Lenders have always had panels of law firms that can act for them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 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 monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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.
Do the conveyancing solicitors identified through your search tool conduct auction conveyancing in Ystradgynlais?
There are a few auction practitioners we can connect you with those specialising in auction conveyancing. Ystradgynlais is just one of hundreds of locations in which our lawyers are based.
We see that you have a post code search directory identifying firms on the HSBC conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Ystradgynlais?
We are a listing service only for law firms wishing to communicate if they are on the HSBC conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ystradgynlais.
About to purchase a new build apartment in Ystradgynlais. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ystradgynlais
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan.
I have been pointed in your direction by a few estate agents in Ystradgynlais to select a property lawyer on your site. What’s the financial inducement for Estate Agents to offer your site ahead of another?
We refuse to give any referral fee for directing people to this site. We found it would be just too difficult a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Estate agents have just been given the go-ahead to market my garden apartment in Ystradgynlais.Conveyancing solicitors are to be appointed soon but I have recently had a quarterly service charge demand – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the invoice as usual as all ground rent and maintenance charges will be apportionedon completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process