Am I correct in assuming that the fact that my solicitor in Bethesda is not listed on my lender's conveyancing panel that there is a problem with the standard of her work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. A recent 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. Should you be concerned you should simply call the Bethesda conveyancing firm and ask them why they are no longer on the approved list for your lender.
Can you help - my lawyer advises that missing deeds insurance is required on my purchase. What is the level of cover for Bethesda conveyancing?
The right level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between HSBC Bank and Virgin Money. Conveyancing lawyers as opposed to members of the public take out such policies.
When it comes to lenders such as Yorkshire BS, do Bethesda lawyers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I am due to exchange contracts on my flat. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being a right pain. The Bethesda solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale 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.
Various internet forums that I have visited warn that are a common cause of hinderance in Bethesda conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Bethesda.
I have been on the look out for a leasehold apartment up to £245,000 and found one close by in Bethesda I like with amenity areas and station nearby, the downside is that it's only got 61 years unexpired on the lease. There is not much else in Bethesda suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
I have been recommended by a number of estate agents in Bethesda to find a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to recommend your site ahead of another?
We don’t offer any commission for directing people our way. We thought it would be too underhand a fee as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.