Am I correct in assuming that the fact that my conveyancer in Rudry is not listed on my lender's conveyancing panel that there is a problem with the quality of her conveyancing?
That would most likely be an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Rudry conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Rudry?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Rudry. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the input of my in-laws I had a survey completed on a house in Rudry prior to instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will not grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions for example to Nationwide. If you contact us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Rudry. Conveyancing will be smoother if you use a solicitor in Rudry especially if they are acquainted with such properties in Rudry.
My husband and I are new on the property ladder - agreed a price, yet the selling agent informed us that the owners will only issue a contract if we appoint their preferred solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a family conveyancer who is familiar with conveyancing in Rudry
It is unlikely the owners are behind this. Should the seller require ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Bypass the agents and go straight to the sellers and explain that (a)you are genuine purchasers (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)but you will continue to appoint your own,trusted Rudry conveyancing solicitors - as opposed tothose that will provide their estate agent a commission or meet his conveyancing targets set by head office.
I am short of a 10% deposit on my apartment purchase in Rudry , but I am anxious proceed. What can I do?
One option is to try and agree a lesser deposit. Many vendors will accept a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last moment