Me and my fiance are planning to buy a 2 bedroom flat in Bethesda with a mortgage. We would like to retain our Bethesda lawyer, however the mortgage company says he's not on their "panel". It appears that we have little choice but to instruct one of the lender panel solicitors or continue with our Bethesda lawyer and pay for one of their panel lawyers to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Bethesda conveyancing lawyer to apply to be on the conveyancing panel.
My wife and I are due to complete on the purchase of a house in Bethesda but as a consequence of damage from the recent storms I have was able negotiate recompense from the current proprietors of £2k by way of a adjustment in the price. I had intended this to be addressed as part of a side agreement however Leeds Building Society will not agree to this. Should they have been informed?
Your property lawyer being on the Leeds Building Society conveyancing panel is obliged to inform Leeds Building Society of any variations to the sale price. If you prohibit your property lawyer to disclose the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new conveyancer for your conveyancing in Bethesda.
We are downsizing from our property in Bethesda and according to the buyers it appears that there is a risk of it being built on contaminated land. A high street Bethesda conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Bethesda. We have lived in Bethesda for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor already. What do they say? You must enquire of 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 health insurance to cover that same illness)
Am I right to be concerned that estate agents that I am dealing with are encouraging me to use a web based conveyancing firm rather than a local Bethesda conveyancing practice?
As is the case with lots of professional services, often recommendations from connections can be extremely useful or valuable. But there are numerous players in a conveyancing matter; estate agents, financial adviser and lenders may put forward solicitors to use. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You have the right to choose your preferred lawyer. Don't forget that most lenders have an approved list of lawyers you must use for the mortgage aspect of your conveyancing.
At what stage do I cover the costs of the Stamp Duty Land Tax payable for my purchase in Bethesda?
Most conveyancing practitioners will complete a stamp duty return on your behalf during your Bethesda conveyancing transaction for signature. After completion your conveyancing practitioner will submit your Land Transaction Return Form to the Tax Authorities and - as long as they have the money - pay any Stamp Duty payable for you.