Much to our surprise we have been told by our lender that my Blaenavon property lawyer is not on the bank Conveyancing panel. How can I be certain whether this is indeed the case?
The first thing you need to do is to call your Blaenavon lawyer directly. You lawyer should notify you what has happened. If they are not on the panel they may be able to suggest a Blaenavon conveyancing practice that is on the conveyancing panel for your mortgage company.
I am selling my house in Blaenavon. Does the conveyancer have to be required to be on the Kent Reliance conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Kent Reliance conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Should commercial conveyancing searches reveal impending roadworks that may affect a commercial estate in Blaenavon?
Many commercial conveyancing solicitors in Blaenavon will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Blaenavon. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Blaenavon.
For each commercial conveyancing transaction in Blaenavon it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Blaenavon commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Blaenavon.
How does conveyancing in Blaenavon differ for new build properties?
Most buyers of new build residence in Blaenavon approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Blaenavon typically purchase the real estate, 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 Blaenavon or who has acted in the same development.
My nephew is about to join the property ladder, he had his mortgage in principle. After the offer was accepted on flat we rang the bank to issue the formal offer. I was disappointed to hear that mortgage companies do not accept all solicitor, they have to be on a list, is this correct?
Banks normally restrict either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Blaenavon conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.