I am five weeks into the sale of my flat in Glan Conwy and the estate agent has just text me to advise that the buyers are swapping conveyancer. The reason given is that the bank will only deal with solicitors on their approved list. On what basis would a major lender only work with specific lawyers rather the firm that they want to select for their conveyancing in Glan Conwy ?
Banks have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. The purchasers are not going to have any impact on this.
My Conveyancer in Glan Conwy has never been on on the Nationwide Building Society Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Nationwide Building Society panel of approved conveyancing solicitors?
The limited options available to you here include:
- Carry on with your existing Glan Conwy lawyers but Nationwide Building Society will need to retain a solicitor on their list of acceptable firms. This will inevitably rack up the overall conveyancing charges as well as result in frustration.
- Choose a new solicitor to act in the conveyancing, obviously checking they are on the Nationwide Building Society panel
Is it the case that all Glan Conwy solicitor firms on the TSB conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the TSB approved list of solicitors they would need to be governed by the SRA. Some mortgage companies do permit licenced conveyancers on their panel in which case such firms would be governed by the Council of Licensed Conveyancers.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Glan Conwy lawyer on the Yorkshire BS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Glan Conwy off the council. I have a mortgage offer with Bank of Ireland. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
My colleague advised me that where I am purchasing in Glan Conwy I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Glan Conwy conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Glan Conwy around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data about Glan Conwy.
I have todaydiscovered that Arc property Solicitors have been shut down. They conducted my conveyancing in Glan Conwy for a purchase of a leasehold flat 12 months ago. How can I establish that the property is not still registered in the name of the former proprietor?
The quickest way to see if the property 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 Glan Conwy conveyancing specialists.