We are hoping to buy a 3 bedroom apartment in Llandeilo with a mortgage. We have a Llandeilo lawyer, however the bank says she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or continue with our Llandeilo lawyer as well as pay for one of their panel lawyers to act for them. We feel that this is inequitable; are we not able to demand that the mortgage company use our Llandeilo lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: 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. A further alternative is for your Llandeilo conveyancing lawyer to apply to be on the conveyancing panel.
Is there a list of Nottingham panel solicitors in Llandeilo on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings available over the internet. Where you are looking for a Llandeilo property lawyer on the Nottingham please use our facility.
I recently had an offer agreed on a house in Llandeilo. My financial adviser recommended their conveyancers. I paid an upfront payment of £200. Shortly after, the conveyancer called me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Our offer on a semi in Llandeilo has been agreed to, the vendors do nevertheless have a tied purchase. The owners have put an offer on somewhere, but it’s not been accepted yet, and are looking at other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in Llandeilo. What should be my next step? When do I get the mortgage application with Leeds Building Society started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses too early (mortgage application is in the region of one thousand pounds, then valuation, Llandeilo conveyancing search costs, etc). First, you should ensure that your property lawyer is on the Leeds Building Society conveyancing panel. As to the subsequent phase this very much depends on the circumstances of your case, motivation for this property and on the state of the market. During a rising market many buyers will apply for the mortgage with Leeds Building Society and pay for the valuation and only if it was satisfactory would they request their solicitor to proceed with the conveyancing in Llandeilo.
Me and my brother own a terraced Edwardian property in Llandeilo. Conveyancing practitioner represented me and Santander. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Llandeilo and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing practitioner who conducted the purchase.
What advice can you give us when it comes to choosing a Llandeilo conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Llandeilo conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with several firms including non Llandeilo conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions might be helpful:
How familiar is the firm with lease extension legislation? What volume of lease extensions has the firm conducted in Llandeilo in the last 12 months?
Llandeilo Conveyancing for Leasehold Flats - Sample of Queries Prior to buying
For most Llandeilo leaseholds the cost for major works are not incorporated into the maintenance charges, albeit that some managing agents in Llandeilo obliged leasehold owners to contribute towards a sinking fund created for the specific intention of establishing a fund for major works. Make sure you enquire if there are any onerous restrictions in the lease. By way of example it is fairly common in Llandeilo leases that pets are not allowed in in a block in Llandeilo. If you love the propertyin Llandeilo but your cat can’t move with you then you will be faced difficult decision. What prohibitions are contained in the Llandeilo Lease?
Is it necessary during the course of the conveyancing process to attend the offices of the bank conveyancing panel solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Llandeilo so that I can pop in to their offices when needed.
As opposed to twenty years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Llandeilo.