We opted for a Nantyglo based firm for our conveyancing in Nantyglo recently. Going through the Terms and Conditions I notewe are responsible for charges even if the movedoes not go ahead. Would I be best advised to choose a web based solicitor practice offering no-sale-no-fee conveyancing in Nantyglo?
It is usually ‘give and take’ in that if "No Sale No Fee" is available then the conveyancing charges will generally be higher to counteract those conveyances that do not proceed. Do bear in mind that such schemes tend not to protect you from outlay e.g. Nantyglo conveyancing search expenses.
Our son is in the process of securing a newly built flat in Nantyglo with a home loan from Bank of Ireland. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Bank of Ireland conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Bank of Ireland conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We wanted to use a property lawyer in Nantyglo for our home move. Our broker has since notified us that our mortgage company Clydesdale won't deal with them. Surely this is unfair competition?
Lenders in the main imposes restrictions either the category or the amount of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a law practice must have two or more partners. As well as restricting the profile of firm, a few lenders have limited the amount of firms they permit to act for them. You should note that Clydesdale have no responsibility for the quality of advice provided by any member of Clydesdale Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels a few years ago even though there remains mixed opinions regarding the level of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near Nantyglo only carry out a couple conveyances per annum.
How does conveyancing in Nantyglo differ for newly converted properties?
Most buyers of new build residence in Nantyglo approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Nantyglo tend to acquire 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 property lawyers 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 accustomed to new build conveyancing in Nantyglo or who has acted in the same development.
Should I choose a Nantyglo conveyancing practitioner who is local to the property I am buying? An old friend can perform the legal formalities however they are based 300kilometers drive away.
The primary upside of using a high street Nantyglo conveyancing practice is that you can drop in to execute documents, hand in your ID and apply pressure on them where appropriate. Having local Nantyglo know how is a benefit. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were impressed that must outweigh using an unknown Nantyglo conveyancing lawyer just because they are Nantyglo based.