lenderpanel

Find a Bow Street Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Bow Street? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Bow Street transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Bow Street conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Bow Street

I am nearing exchange of contracts for my ground floor flat in Bow Street and the EA has just called to say that the purchasers are switching solicitor. The excuse is that the mortgage company will only work with solicitors on their approved list. On what basis would a leading lender only deal with certain lawyers rather the firm that they want to choose for their conveyancing in Bow Street ?

UK lenders 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 HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.

Banks point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal 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 do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.

I happen to be the sole beneficiary of my late father’s estate with all property in now in my sole name, including the house in Bow Street. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a CML six month 'rule', which means that my property ownership could be regarded the same way as if I'd bought the house in March. Will no one buy the property for half a year?

The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. Some lenders would take a practical view as this clause is chiefly there to pick up on subsales or the wholesaling and assigning of property.

I am due to exchange contracts on my apartment. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being problematic. The Bow Street solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?

It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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.

About to purchase house in Bow Street. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.

They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bow Street lawyer is on the Bank of Ireland conveyancing panel.

I am looking for a leasehold apartment up to £195,000 and found one near me in Bow Street I like with amenity areas and railway links nearby, however it's only got 52 years on the lease. I can't really find anything else in Bow Street in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?

If you require a mortgage the remaining unexpired lease term will be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.

In my capacity as executor for the estate of my aunt I am selling a property in Swansea but I am based in Bow Street. My lawyer (approximately 235 miles awayrequires that I execute a statutory declaration ahead of completion. Can you recommend a conveyancing practitioner in Bow Street to attest this legal document for me?

strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or qualified solicitor will be fine regardless of whether they are located in Bow Street

I am due to review estimates for conveyancing in Bow Street from three solicitor and choose one. Am I right to instruct them to hold tight until I I have an offer accepted on a flat.

We would recommend that you only request your property lawyer to open a file and submit searches once the sales memo has been issued by the selling agent particularly as Bow Street conveyancing searches are costly.

Last updated

Neighbouring Locations

Borth and Talybont
Aberdovey
Borth
Bow Street
Aberystwyth
Ceredigion
Llanon

Find out more about how flying freehold can affect your the value of a property.