My husband and I are planning to purchase a flat in Ammanford and are in fact using a Ammanford conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Nationwide Building Society have this morning contacted us to inform me that they have now hit a problem as our Ammanford solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Ammanford solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am the registered owner of a freehold residence in Ammanford but still invoiced for rent, why is this and what is this?
It is rare for properties in Ammanford and has limited impact for conveyancing in Ammanford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Ammanford so that I can attend their offices if necessary.
As opposed to ten years ago, the vast majority banks no longer need their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to hand over ID documents and there are still distinct benefits to instructing a locally based solicitor, in your case a conveyancing solicitor in Ammanford.
If you had a top tip for selecting a conveyancing solicitor in Ammanford what would it be?
We would encourage you not to base your choice on the cheapest Ammanford conveyancing fees. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I am buying a property in Ammanford. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Clydesdale be concerned?
Given that your lender is Clydesdale your lawyer must follow the formal instructions contained in Section two of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and lawyers are required to report to Clydesdale where a lease fails to comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not limited to Ammanford.
I have paid off my mortgage with Virgin Money. I assume I don't need a Ammanford conveyancer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
My husband and I are one month into a freehold purchase having been recommend to solicitors by the local agent to execute conveyancing in Ammanford. We are not happy. Can you you assist me in finding new conveyancers?
They would need to be really bad in order to consider changing them. Has the mortgage been issued? In the event that it has you need to make them aware of the new contact details and ensure the mortgage documents are issued to the new lawyers. Your new solicitor ideally should be on the mortgage company panel to avoid supplemental charges and complications. So that should be your starting point. The search tool can help you find a bank approved solicitor for your conveyancing in Ammanford