I am not in a position to travel far from Llandaff. What is the rationale as to why all Llandaff conveyancing practitioners aren't automatically on all mortgage company panels?
Banks ordinarily impose restrictions on either the nature or the number of conveyancing firms on their approved list of lawyers. A common example of such criteria being that the firm must have at least two partners. In addition to restricting the type of firm, some building societies made a decision to reduce the number of organisations they allow to represent them. It is worth noting that mortgage companies have no responsibility for the accuracy of conveyancing provided by any Llandaff conveyancer on their approved list. Property fraud was the key driver in the rationalisation of solicitor panels a few years ago even though there are opposing views about the extent of solicitor involvement in some of that fraud. Data from HM Land Registry indicates that thousands of law organisations only carry out a couple of conveyances a year. Those advocating conveyancing panel culls ask why law firms should have any entitlement to be listed on a lender panel when clearly conveyancing is not their speciality?
When will exchange of contracts take place for sale conveyancing in Llandaff and do I need to be at the solicitors office?
Where you are near to one of the conveyancing solicitors in Llandaff you are invited in to sign contracts. That being said, the lender approved solicitors we work with offer a countrywide conveyancing service and give as equally comprehensive and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. Signing on the dotted line is necessary for the conveyancer to address the formalities at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Llandaff)to be in the office at the appropriate time.
I am about to put an offer on a leasehold apartment in Llandaff. The property agents assure me that it is standard for flats in Llandaff to have less than 75 years left on the lease. I am expecting a mortgage with Bank of Ireland. Is this going to be acceptable if the lease has 69 years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/1/2023 the requirements read as follows :
I opted to have a survey done on a house in Llandaff in advance of appointing solicitors. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks will not give a mortgage on this type of premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Llandaff. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Llandaff to see if the conveyancing will be more expensive.
My mortgage broker has suggested using their property lawyer for our conveyancing in Llandaff - Is it not simpler advisable to just instruct them?
You need to establish if the estate agent is recommending a lawyer or introducing to a conveyancer. There are plenty of Llandaff estate agents who recommend two or three Llandaff conveyancing firms and get nothing from it.