I had intended to instruct a property lawyer in Conwy for our home move. Our financial adviser has since notified us that our bank Leeds Building Society won't deal with them. Why is this not regarded as unfair competition?
Before the recession most banks had an appetite for risk which was higher than today. Almost all Conwy conveyancing firms would have been on most bank panels. The FSA in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms relating to their operations and their employees and set certain criteria such a completing on a minimum volume of conveyancing. Many Conwy conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Conwy is amongst the many areas where the lawyers we recommend are on the panel for Leeds Building Society.
I require fast conveyancing in Conwy as I am under an ultimatum to exchange contracts inside one month. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
If.Given you are are a cash purchaser you have the choice not to do searches although no conveyancer would advise that you don't. With lots of history conveyancing in Conwy the following are instances of issues that can appear and therefore affect future mortgageability: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Conwy is the location of the property. Is there any guidance you can impart?
Flying freeholds in Conwy are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Conwy you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Conwy may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Am I right to be wary about brokers that I am dealing with are encouraging me to use an internet conveyancing firm as opposed to a High Street Conwy conveyancing firm?
As with lots of professional services, often referrals from relatives can be extremely useful or valuable. Nevertheless there are many players in a conveyancing deal; estate agents, mortgage brokers and banks may recommend conveyancers to appoint. On occasion the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there might be a financial incentive behind the recommendation. You are at liberty to choose your own conveyancer. Don't forget that many mortgage providers have an approved list of lawyers you have to use for the lender aspect of your conveyancing.
I am a couple of weeks into a leasehold purchase having been recommend to conveyancers by the estate agent to execute conveyancing in Conwy. We are not happy. Can you help me find new solicitors?
A conveyancer would need to be really poor to suggest diss instructing them. Has your mortgage offer been sent? In the event that it has you need to advise them of the replacement solicitor and ensure the mortgage documents are issued to the new lawyers. Your conveyancer should be on the mortgage company panel to avoid escalating fees and delays. That should be your first question of the new conveyancers. Our find a solicitor tool can help you find a bank approved conveyancer for your home move in Conwy