We are purchasing a 1 bedroom apartment in Pontcanna with a mortgage. We wish to retain our Pontcanna conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Pontcanna property lawyer and pay for one of their panel lawyers to represent them. We feel that this is inequitable; can we not demand that the mortgage company use our Pontcanna property 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 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. Another option that might be available is for your Pontcanna conveyancing solicitor to apply to be on the conveyancing panel.
Are the Pontcanna conveyancing solicitors identified as being on the Aldermore conveyancing panel, together with their details provided by Aldermore?
Pontcanna conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
How do I discover of the solicitor carrying out my conveyancing in Pontcanna is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Ireland thus spending £175.00 in additional conveyancing bill.
You should take advantage of the find a lender approved solicitor tool on this page. Pick the lender and type ‘Pontcanna’ or your preferred area and you will be presented with a number of lawyer located in Pontcanna or nearest you.
Various online forums that I have frequented warn that are the main cause of obstruction in Pontcanna house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays in the conveyancing process. Local searches are not likely to be the root cause of delay in conveyancing in Pontcanna.
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in Pontcanna I like with open areas and station nearby, the downside is that it's only got 49 remaining years left on the lease. There is not much else in Pontcanna in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a mortgage that many years may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this matter.