I am 3 weeks into the sale of my maisonette in Betws Y Coed and the EA has just called to advise that the buyers are changing their property lawyer. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named lender only engage with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Betws Y Coed ?

Mortgage companies have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.

Lenders blame a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.

When will exchange of contracts occur in residential conveyancing in Betws Y Coed and do I need to be at the lawyers branch?

If you are round the corner to one of the conveyancing solicitors in Betws Y Coed you are welcome to attend to sign contracts. However, the lender approved solicitors we recommend provide a nationwide conveyancing service and give as equally comprehensive and professional a job for you when communicating with you by post or email. The executing of the property agreement is not when everything is set in stone. Signing on the dotted line simply enables the solicitor to exchange contracts at the appropriate time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Betws Y Coed)to be in the office at the appropriate time.

Are there restrictive covenants that are commonly picked up as part of conveyancing in Betws Y Coed?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Betws Y Coed. 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…’

I have been on the look out for a ground for flat up to £245,000 and found one round the corner in Betws Y Coed I like with amenity areas and railway links nearby, however it's only got 52 remaining years left on the lease. There is not much else in Betws Y Coed for this price, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a home loan that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.

I require the services of a bank panel solicitor in Betws Y Coed. Can you assist?

Unfortunately it’s not apparent why you need a Betws Y Coed panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the bank to find out which solicitors in Betws Y Coed are on their panel . If you do find such a firm in Betws Y Coed not listed please direct them to our site to list. After all the cost is only one £1 a month