Am I correct in assuming that the fact that my solicitor in Aberbargoed is not listed on my lender's conveyancing panel that there is a problem with the quality of his work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed 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 simply call the Aberbargoed conveyancing practice and enquire why they are no longer on the approved list for your lender.
We have agreed to purchase a house in Aberbargoed. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
Given that your lender is Bank of Ireland your lawyer must check the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Bank of Ireland. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Bank of Ireland where a lease fails to meet these requirements. The requirements relate to the installation of panels on properties countrywide and is not isolated to Aberbargoed.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Aberbargoed bank branch on various occasions and was told it does not impact the mortgage offer and they will lend. My Aberbargoed conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend based on their published requirements. Who do I believe?
The solicitor must comply with the CML Handbook Part 2 requirements for your lender. 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 remaining.
Intending to buy a apartment in Aberbargoed. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the TSB conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Aberbargoed lawyer is on the TSB conveyancing panel.
I have been told that property searches are the main cause of delay in Aberbargoed conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Aberbargoed.
How does conveyancing in Aberbargoed differ for newly converted properties?
Most buyers of new build property in Aberbargoed come to us having been asked by the seller to exchange contracts and commit to the purchase even before the house is finished. This is because house builders in Aberbargoed typically acquire the land, 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 property lawyers 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 used to new build conveyancing in Aberbargoed or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Aberbargoed is the location of the property. Is there any guidance you can impart?
Flying freeholds in Aberbargoed are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Aberbargoed you would need to get your solicitor to go 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 Aberbargoed may ascertain 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.