Our Blaenau Gwent lawyer has discovered an inconsistency when comparing the surveyor’s assumptions in the home valuation report and what is revealed within the conveyancing documents. My solicitor informs me that he is duty bound to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my conveyancer’s approach correct?
Your property lawyer must comply with the UK Finance Lenders’ Handbook specifications which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I just bought a property at auction in Blaenau Gwent. Conveyancing is required. What happens now?
Now that you have for in every practical sense signed on the dotted line you now have to retain a conveyancing lawyer as a matter of urgency as you are faced with a tight a drop dead date to complete the deal. Every auction property will ordinarily have a corresponding auction pack. This should include most,if not all of the documents that your solicitor will need. If you have purchased leasehold property the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must hand this to the conveyancer instructed by you at the earliest opportunity. You also need to ensure that you have funds organised to complete on the date specified in the contract.
We previously chose conveyancing lawyers locally in Blaenau Gwent on the Bank of Ireland solicitor approved list. They are now charging me a separate sum for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee specified by Bank of Ireland?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancer may charge a fee for this. This fee is not set by Bank of Ireland but by your Blaenau Gwent solicitor. Numerous firms on the Bank of Ireland panel will quote ’dealing with mortgage’ fee and others do not.
We are getting a further advance on our home loan from RBS as we wish to conduct renovations to our house in Blaenau Gwent. Do we need to appoint a high street Blaenau Gwent solicitor on the RBS conveyancing panel to handle the paperwork?
RBS would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS panel.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a straight forward, no chain conveyancing. Blaenau Gwent is the location of the property. What do you suggest?
Flying freeholds in Blaenau Gwent are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Blaenau Gwent you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Blaenau Gwent may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
In surfing the world wide web for the phrase conveyancing in Blaenau Gwent it shows results of many conveyancersin the area. How do I determine which is the suitable property lawyer for my move?
The best method of finding the right conveyancer is through a personal referral, so enquire of friends and those you trust who have purchased a property in Blaenau Gwent or a local estate agent or financial adviser. Charges for conveyancing in Blaenau Gwent vary, so it's a good idea to secure at least three fee calculations from varying types of property lawyers. Make sure that you clarify that the costs are assured not to escalate.
My partner and I are purchasing a garden flat in Blaenau Gwent. When we first instructed property lawyer, they assured us that they were on all mainstream lender panels. Our financial adviser emailed yesterday to say that they don't appear to be on the UBS approved list. Should that be true, what should we do? Do we simply choose a different property lawyer that is on their panel or do we cover the costs for separate representation, with UBS appointing their own preferred solicitor.
Where you are purchasing a property requiring a mortgage it is usual for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the lawyer has to meet. Some banks now require their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancer should contact UBS to discover 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 don't have to instruct a firm on UBS's conveyancing panel as you are at liberty to use your preferred Blaenau Gwent lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.