The Cefn Mawr conveyancing lawyers that I appointed last week on my house acquisition in Cefn Mawr have without warning shut down. They were on acting for me because I needed a lawyer on the TSB conveyancing panel and my family Cefn Mawr lawyer was not. I paid them money in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the TSB conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Is it necessary to pay for insurance to protect me from financial exposure to chancel repairs when acquiring a house in Cefn Mawr?
Unless a previous acquisition of the property took place after 12 October 2013 you can expect lawyers delivering conveyancing in Cefn Mawr to remain encouraging a chancel search and or chancel repair liability policy.
I have recentlyfound out that Stirling Law have closed. They carried out my conveyancing in Cefn Mawr for a purchase of a freehold house 10 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest method to check if the premises is in your name, you can carry out 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 Cefn Mawr conveyancing specialists.
I'm purchasing a new build house in Cefn Mawr with the aid of help to buy. The sellers would not budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not to tell my conveyancer about this extras as it would adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
We are buying a three room bungalowin Cefn Mawr with a residential mortgage from a mortgage company. We have a lawyer in Cefn Mawr however our lender inform us now that she’s not approved on their "panel". It seems we have little choice but to instruct from the our mortgage company panel solicitors or keep our Cefn Mawr conveyancer and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that our lender use our Cefn Mawr lawyer?
No, not really. The bank mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the bank's conveyancing panel. in the past, most lenders had large numbers of law firms on their panels, including almost all conveyancing solicitors in Cefn Mawr : a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.