Is the fact that my conveyancer in Cwmcarn is not on my lender's conveyancing panel that there is a problem with the quality of her work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack 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. If you are concerned you should contact the Cwmcarn conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
My partner and I intend to remortgage our penthouse in Cwmcarn with Santander. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Santander conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Santander conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Santander. This is solely used to protect Santander if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Santander had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My lawyer has informed me that defective lease insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Cwmcarn?
The appropriate level of defective lease indemnity insurance depends on your lender. It would differ for example between Accord Mortgages Ltd and Leeds Building Society. Conveyancing solicitors as opposed to members of the public take out such insurances.
We had chosen conveyancers locally in Cwmcarn on the TSB solicitor panel. They have just invoiced me a further fee for dealing with the TSB mortgage. Is this a supplemental conveyancing fee set by TSB?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your conveyancer may levy a fee for this. The fee is not set by TSB but by your Cwmcarn conveyancer. Some firms on the TSB panel will levy ’dealing with mortgage’ fee and others do not.
How can we know in advance if a Cwmcarn conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Cwmcarn seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer carrying out your conveyancing.
It has been five months since my purchase conveyancing in Cwmcarn completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How does conveyancing in Cwmcarn differ for new build properties?
Most buyers of new build premises in Cwmcarn approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because new home sellers in Cwmcarn typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cwmcarn or who has acted in the same development.