My husband and I are looking to buy a flat in Torfaen and are in fact using a Torfaen conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Godiva Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Torfaen lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Torfaen solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Last June we completed a house move in Torfaen. We have since encountered a number of problems with the property which we believe were omitted in the conveyancing searches. What action can we take? Can you clarify the nature of searches that should have been ordered as part of conveyancing in Torfaen?
It is not clear from the question as what problems have arisen and if they are unique to conveyancing in Torfaen. Conveyancing searches and investigations undertaken as part of the legal transfer of property are supposed to help avoid problems. As part of the process, a property owner fills in a form referred to as a SPIF. answers provided is misleading, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Torfaen.
I can see plenty of here concerning conveyancing in Torfaen but what is your top tip for finding the right conveyancer in Torfaen
Do not opt for the lowest Torfaen conveyancing fees. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am due to exchange contracts on my flat. I had a double glazing fitted in November 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being difficult. The Torfaen solicitor who is on the Bank of Ireland conveyancing panel is saying indemnity insurance will be fine but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase flat in Torfaen. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Torfaen solicitor is on the Principality conveyancing panel.
How does conveyancing in Torfaen differ for newly converted properties?
Most buyers of new build or newly converted property in Torfaen contact us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Torfaen usually purchase 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 Torfaen or who has acted in the same development.
My business partner and I are hoping to lease a unit on the high street. Can you recommend conveyancers offering competitive fees for non-domestic conveyancing in Torfaen for less than £1,200?
We can recommend firms who host a wealth of experience of commercial conveyancing in Torfaen, including the disposal and acquisition of businesses as well as simply property. If you are hoping to purchase or sell a shop, pub, restaurant, office, retail unit or a whole business we can put you in touch with the right lawyer. As for the charges this will depend on the structure and complexity of the proposed transaction. Let us have your contact information or telephone us so that we may supply you with comprehensive commercial conveyancing calculation.