I am in the process of selling my apartment in Neath Abbey and the estate agent has just telephoned to advise that the purchasers are swapping conveyancer. I am told that this is due to the fact that the bank will only work with solicitors on their conveyancing panel. Why would a major mortgage company only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Neath Abbey ?
Banks have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that 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 unlikely to have any sway in the decision.
I am need of leasehold conveyancing for an apartment in a relatively new development (seven years built) in Neath Abbey. The vast majority the flats are already sold. Is it really necessary to order local searches for my conveyancing in Neath Abbey?
You would be taking a significant risk in refusing to carrying out Neath Abbey conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal requirement to have them, but we would strongly advise in the strongest possible terms that you have them. Where speed and driving down costs are top of your issues you should consider with your conveyancer about the option of search insurance
I am purchasing a terraced house in Neath Abbey. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Neath Abbey you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Neath Abbey.
I am buying a new build flat in Neath Abbey. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Neath Abbey
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Am I best advised to go with a Neath Abbey conveyancing solicitor who is local to the property I am purchasing? An old friend can carry out the conveyancing however her office is a couple of hundredmiles away.
The benefit of a local Neath Abbey conveyancing firm is that you can drop in to sign documents, present your identification documents and pester them if necessary. Having local Neath Abbey know how is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust instructed your friend and in the main were happy that must surpass using an unfamiliar Neath Abbey conveyancing solicitor just because they are round the corner.