Find a Llanrumney Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Llanrumney? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Llanrumney home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Llanrumney conveyancers for over 130 lenders.

Recently asked questions about conveyancing in Llanrumney

My husband and I are buying a 1 bedroom apartment in Llanrumney with a mortgage. We have a Llanrumney lawyer, but the lender says he's not on their "panel". We have to appoint one of the lender panel firms or retain our Llanrumney property lawyer as well as pay for one of their panel lawyers to represent them. We consider that this is inequitable; are we not able to require that the mortgage company use our Llanrumney lawyer ?

Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Llanrumney conveyancing lawyer to apply to be on the conveyancing panel.

My Llanrumney conveyancer has identified a discrepancy between the information in the valuation survey and what is in the legal papers for the property. My solicitor informs me that he is duty bound to check that the lender is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach right?

Your solicitor must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

How does conveyancing in Llanrumney differ for new build properties?

Most buyers of new build or newly converted property in Llanrumney approach us having been asked by the developer to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Llanrumney usually purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Llanrumney or who has acted in the same development.

I am using a search engine for the words on line conveyancing in Llanrumney it brings up many solicitorslocally. How do I determine which is the suitable property lawyer for purchase transaction?

The preferential method of choosing a suitable conveyancer is through a personal referral, so ask friends and relatives who have purchased a property in Llanrumney or the reputable estate agent or financial adviser. Costs for conveyancing in Llanrumney differ, so it's a good idea to request at least four costs illustrations from varying types of property lawyers. Dont forget to clarify that the fees are fixed.

Do you have any top tips for leasehold conveyancing in Llanrumney from the point of view of saving time on the sale process?

  • Much of the delay in leasehold conveyancing in Llanrumney can be avoided where you get in touch lawyers as soon as you market your property and ask them to collate the leasehold information which will be required by the buyers’ conveyancers.
  • If you have carried out any alterations to the premises would they have required Landlord’s permission? Have you, for example laid down wooden flooring? Llanrumney leases often stipulate that internal structural alterations or laying down wooden flooring calls for a licence issued by the Landlord acquiescing to such alterations. Should you fail to have the approvals to hand you should not communicate with the landlord without checking with your lawyer in advance. A minority of Llanrumney leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should notify your estate agents to make sure that the purchasers put in hand financial (bank) and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you have had any disputes with your landlord or managing agents it is very important that these are resolved before the property is put on the market. The purchasers and their solicitors will be warry about purchasing a property where there is a current dispute. You may have to bite the bullet and discharge any arrears of service charge or resolve the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is better to reveal the dispute as historic rather than unsettled.

Llanrumney Leasehold Conveyancing - Sample of Questions you should ask before Purchasing

    Is there a share of the freehold? Are there any major works in the near future that will add a premium to the service costs? The best form of lease structure is if the freehold title is owned by the leaseholders. In this scenario the tenants enjoy control and notwithstanding that a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves.

Last updated

Find out more about how flying freehold can affect your the value of a property.