Can you clarify what the consequences are if my lawyer’s firm is suspended from the Coventry BS Solicitor panel ahead of completing my conveyancing in Chirk?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
If you had a top tip for choosing a conveyancing solicitor in Chirk what would it be?
It would be unwise to be seduced by the cheapest Chirk conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of time.
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Chirk bank branch on numerous occasions and was informed it wasn't an issue and they will lend. My Chirk conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their published requirements. Who do I believe?
Provided that the solicitor is on the bank panel, they must follow the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
About to purchase apartment in Chirk. 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 Aldermore 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 Chirk property lawyer is on the Aldermore conveyancing panel.
Due to the guidance of my in-laws I had a survey completed on a house in Chirk prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks tend not issue a mortgage on this type of home.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Chirk. Conveyancing may be slightly more expensive based on your lender's requirements.
Should I be suspicious by estate agents that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Chirk conveyancing firm?
As is the case with many professional services, often input from connections can be very helpful. Yet there are lots of parties with a keen interest in a conveyancing transaction; estate agents, financial adviser and mortgage companies may put forward lawyers to retain. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You have the right to select your preferred lawyer. However, bear in mind that most lenders operate an approved list of law firms you have to use for the lender aspect of your home move.
I yesterday become aware that one of the directors of the law firm undertaking the purchase conveyancing in Chirk is related to the vendor. Is this allowed?
Provided there is no conflict of interest this should be fine. If you are obtaining a home loan then the mortgage company may have a say as many lenders have specific requirements on this. For example for Santander A&L as of 9/10/2019, the requirements read as follows :