Unfortunately I am unable to travel far from Abercarn. What is the rationale as to why all Abercarn conveyancing practitioners aren't included on all mortgage company panels?
Before the recession most banks had an attitude to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into property fraud which concluded: know the solicitors on your panel. Consequently, mortgage companies have since looked to extract more information from law firms concerning their processes and the staff who work for them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum volume of transactions the lenders required.
My Conveyancer in Abercarn has never been on on the Bank of Ireland Solicitor Panel. Can I still retain my prefered solicitor even though they are not on the Bank of Ireland panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Abercarn solicitors but Bank of Ireland will need to use a lawyer on their panel. This will result in additional total conveyancing charges as well as result in frustration.
- Choose an alternative solicitor to act in the purchase, remembering to check they are on the Bank of Ireland panel
I'm buying a new build house in Abercarn with a mortgage from TSB. The developers refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not to tell my conveyancer about this side-deal as it may adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am thinking of appointing a conveyancing solicitor in Abercarn for my house move. Can I review a firm’s record with the profession’s regulator?
Anyone can see published Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. For details Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.
Back In 2000, I bought a leasehold flat in Abercarn. Conveyancing and Bank of Ireland mortgage organised. A letter has just been received from someone saying they have taken over the freehold. It included a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Abercarn who acted for me is not around. Any advice?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. There is no need to incur the fees of a Abercarn conveyancing lawyer to do this as you can do this on the Land Registry website for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Abercarn Leasehold Conveyancing - Examples of Queries before buying
You should be aware that where the lease has no more than 80 years it will impact the marketability of the apartment. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. Leases with fewer than 80 years remaining means that you will almost definitely require a lease extension sooner rather than later and you need to have some idea of how much this would cost. For most Abercarnlease extensions you would be be obliged to have owned the property for 24 months before you are legally able to extend the lease. It is important to be aware whether a new roof is being put on or some other major work is pending that will be shared amongst the leaseholders and may well dramatically increase the the maintenance charges or require a specific payment. How much is the ground rent and service charge?