My fiance and I are looking to acquire a house in Bagillt and have instructed a Bagillt conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Alliance & Leicester have this evening contacted us to inform me that there is now an issue as our Bagillt conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also represent 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 Accreditation 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Bagillt lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Is there a reason why leasehold purchase conveyancing in Bagillt costs more?
In summary, leasehold conveyancing in Bagillt and Flintshire usually warrants additional work compared to freehold transactions. This includes analysing the lease terms, communicating with the landlord concerning serving required notices, procuring up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
Are all Bagillt Conveyancing Quality Solicitors on the Leeds Building Society conveyancing list of approved solicitors?
A selection of banks and building societies now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their panels.
I am currently in the process of buying my council flat in Bagillt. I have a mortgage agreed with Santander. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Santander, you will need to appoint a solicitor on the Santander conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in July 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Principality are being difficult. The Bagillt solicitor who is on the Principality conveyancing panel is saying indemnity insurance will be fine but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
How does conveyancing in Bagillt differ for newly converted properties?
Most buyers of new build premises in Bagillt contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is completed. This is because new home sellers in Bagillt tend to buy 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 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 Bagillt or who has acted in the same development.
As co-executor for the estate of my father I am selling a residence in Swansea but live in Bagillt. My conveyancer (approximately 300 miles awayneeds me to sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Bagillt to attest and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are Bagillt based