My wife and I are planning to acquire a house in Bangor and are in fact using a Bangor conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Chelsea Building Society have this evening contacted us to advise us that they have now hit a problem as our Bangor solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the purchaser's lender. 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 property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Bangor lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am expecting a AIP from Leeds Building Society this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Bangor solicitors on the Leeds Building Society conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Bangor solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I can not work out 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 my Bangor bank branch on various occasions and was told they are content with the situation and they would lend. My Bangor conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their published requirements. I simply don't know who is right.
Provided that the property lawyer is on the bank panel, they must follow the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 left on the lease.
After months of negotiation I have agreed a price on a house in Bangor. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £200. Not long after, the lawyer called me to say that they were not on the UBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the UBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
What can a local search inform me regarding the house I am buying in Bangor?
Bangor conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search is essential in every Bangor conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your property. The search should reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bangor?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bangor. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
My father has recommend that I instruct his lawyers for conveyancing in Bangor. Should I use them?
Much as we are happy to recommend a Bangor conveyancing lawyer the ideal way to select a conveyancing solicitor is to seek referrals from friends or family who have actually previously instructed the solicitor you're considering.