I have just started taking steps with the aim of switching my current residential loan to a BTL The Royal Bank of Scotland mortgage. I was told by my financial advisor that I must appoint a lawyer as part of the process. I had a chat the same Pembrokeshire conveyancing solicitor who dealt with the legals when I initially purchased the house. The pricing estimate they've given of £450 plus VAT has surprised me as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate does seem a tad overpriced. Where you are content to invest time comparing prices you might reduce the fees slightly by as much as £100 plus VAT. That being said, providing that you were pleased with the conveyancing the firm provided you maylive to regret opting for an an untested conveyancer. If is important to check that the solicitor can also act for The Royal Bank of Scotland. You can employ our search tool to select a Pembrokeshire conveyancing firm on the The Royal Bank of Scotland approved list of lawyers, which can often include conveyancing solicitors in Pembrokeshire.
Can the conveyancing practitioners identified through your search tool handle auction conveyancing in Pembrokeshire?
We know of a few niche solicitors we can connect you with those specialising in auction conveyancing. Pembrokeshire is just one of our areas of in which our lawyers have offices.
It is 10 years ago since I acquired my house in Pembrokeshire. Conveyancing solicitors have recently been instructed on the sale but I can't locate my deeds. Is this a major issue?
Don’t worry too much. Firstly there is a possibility that the deeds will be retained by the mortgage company or they may still be with the conveyancers who acted in your purchase. Secondly in all probability the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Most conveyancing in Pembrokeshire relates to registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
I have been recommended by numerous estate agents in Pembrokeshire to select a conveyancer on your site. Is there a financial advantage for Estate Agents to recommend your site over another?
We refuse to offer any referral fee for directing people in our direction. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My son is about to join the property ladder, the home loan was agreed last week in principle. When the offer was accepted on apartment we called the mortgage company to issue the formal offer. I was shocked to hear that banks do not accept all solicitor, they need to be on their approved list, is this legal?
Banks tend to imposes restrictions either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Pembrokeshire property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.