My wife and I are planning to acquire a home in Blaina and are in fact using a Blaina conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. National Westminster Bank have this evening contacted us to advise us that there is now an issue as our Blaina lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors 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 Accreditation 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 solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Blaina solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
My aunt passed away last year and as sole heir and executor I was left the property in Blaina. The house had a small mortgage remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Aldermore, pay off the mortgage. Is this allowed?
If you intend to re-mortgage then Aldermore will require that you use a conveyancer on the Aldermore conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Aldermore conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Aldermore mortgage is registered as a charge at the Land Registry.
I have recentlyfound out that Arc property Solicitors have closed. They conducted my conveyancing in Blaina for a purchase of a leasehold apartment 9 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Blaina conveyancing specialists.
How does conveyancing in Blaina differ for newly converted properties?
Most buyers of new build residence in Blaina approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is finished. This is because new home sellers in Blaina tend to purchase the land, 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 property lawyers 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 Blaina or who has acted in the same development.
In searching the internet for the term conveyancing in Blaina it shows results of numerous solicitorsin the area. How do I determine which is the suitable conveyancer for purchase transaction?
The ideal method of seeking the right conveyancer is via personal testimonial, so enquire of friends and relatives who have purchased a property in Blaina or the reputable estate agent or financial adviser. Charges for conveyancing in Blaina vary, so it's advisable to obtain a minimum of four estimates from different solicitors. Make sure that you clarify that the costs are assured not to to be inflated.