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Find a Builth Wells Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Builth Wells conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Builth Wells

All was ready to move into my new home in Builth Wells next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?

Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 conditions. These requirements are not unique to conveyancing in Builth Wells.

In what way does my ID and proof of funds have anything to do with my conveyancing in Builth Wells? Why is this being asked of me?

Builth Wells conveyancing solicitors and indeed property practitioners accross the UK have a duty under Anti-terror and anti-money-laundering rules to verify the identity of any client with a view to ensure that clients are who they say they are.

Conveyancing clients are required to supply two forms of certified ID; proof of identity (usually a Passport or Driving Licence) and proof of address (usually a Utility Bill less than 3 months old).

Proof of the origin of monies is also required under the money laundering statutes as solicitors are duty bound to check that the funds you are using to acquire a property (whether it be the deposit for exchange or the total purchase price if you are a cash purchaser) has originated from a reputable source (such as an inheritance) rather than the proceeds of criminal behaviour.

I happen to be the only recipient of my late grandmother’s will and I have everything in my name alone, including the house in Builth Wells. Conveyancing formalities meant that the Land Registry date was in February. I plan to dispose of the house. I do know about the CML 6 month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the house in February. Is the property unsalable for six months?

The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view mortgage companies take of it, depend on the mortgage company as this requirement chiefly exists to identify the purchase and immediately sell or the quick reselling of property.

I recently had an offer agreed on an apartment in Builth Wells. My mortgage broker suggested a property lawyer. I paid an on account payment of £150. Shortly after, the solicitor called me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I am due to exchange contracts on my flat. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Lloyds are being pedantic. The Builth Wells solicitor who is on the Lloyds conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?

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

Due to the guidance of my in-laws I had a survey completed on a property in Builth Wells before appointing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some lenders will refuse to give a mortgage on a flying freehold premises.

It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you call us we can investigate further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Builth Wells. Conveyancing may be slightly more expensive based on your lender's requirements.

We're first time buyers - agreed a price, yet the selling agent informed us that the owners will only go ahead if we instruct the agent's recommended conveyancers as they want an ‘expedited deal’. Our preferred option is to instruct a family solicitor used to conveyancing in Builth Wells

It is unlikely the vendors are behind this. If they want ‘a quick sale', turning down a genuine buyer is not the way to achieve this. Avoid the agents and go straight to the owners and make sure they comprehend that (a)you are serious buyers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your preferred Builth Wells conveyancing firm - as opposed tothe ones that will provide the estate agent a introducer fee or achieve conveyancing targets pre-set by corporate headquarters.

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