I am selling my flat in Carmarthenshire and the EA has just called to advise that the purchasers are swapping conveyancer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a leading lender only deal with specific lawyers rather the firm that they want to appoint for their conveyancing in Carmarthenshire ?
UK lenders have always had panels of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions attribute this action to a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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 unlikely to have any impact on this.
We are due to move home in April. Should my conveyancing solicitor liaise with the removal company on the day of completion. As an aside, can you recommend a removal company in Carmarthenshire. Conveyancing lawyer was organised before I stumbled across this website.
On the day of completion you will need to pick up the keys from the selling agent however this can only be done after the sellers solicitors inform the agent that they have the completion monies and the keys can be given over. Subsequently you will need to tell the removal company that they can start moving you in. As a matter of policy we do not recommend a specific removal organisation but can help you choose a residential property solicitor in Carmarthenshire or a lawyer with expertise in conveyancing in Carmarthenshire.
We previously chose conveyancers located in Carmarthenshire on the Bank of Ireland solicitor panel. They are now charging me a supplemental charge for the legal aspects of the Bank of Ireland mortgage. Is this a supplemental conveyancing fee specified by Bank of Ireland?
Unfortunately, so long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner can levy a fee for this. The charge is not set by Bank of Ireland but by your Carmarthenshire conveyancing practitioner. Plenty of firms on the Bank of Ireland panel will levy an ‘acting for lender’ fee and others do not.
About to purchase maisonette in Carmarthenshire. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton 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 Carmarthenshire property lawyer is on the Skipton conveyancing panel.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Carmarthenshire.
Flooding is a growing risk for conveyancers specialising in conveyancing in Carmarthenshire. Some people will acquire a house in Carmarthenshire, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that can be undertaken by the purchaser or by their solicitors which should figure out the risks in Carmarthenshire. The standard completed inquiry forms supplied to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out if the property has historically flooded. If flooding has previously occurred which is not notified by the vendor, then a purchaser may issue a compensation claim as a result of such an inaccurate reply. A buyer’s solicitors should also carry out an enviro search. This should reveal if there is any known flood risk. If so, additional investigations will need to be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Carmarthenshire?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Carmarthenshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Carmarthenshire differ for newly converted properties?
Most buyers of new build premises in Carmarthenshire come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Carmarthenshire usually 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 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 Carmarthenshire or who has acted in the same development.