My husband and I are intent on purchasing a leasehold flat in Tredegar. My property lawyer has never been on on the bank conveyancing list. Is it possible for me to appoint my Tredegar conveyancing solicitor notwithstanding that they are excluded from the lender panel?
Your options include
- Complete the purchase with your existing Tredegar conveyancer but your lender will no doubt use a conveyancing practitioner on their approved panel. The net result is additional cost and probable frustration.
- Get a new conveyancing practitioner to act in the purchase, making sure they are on the lender conveyancing panel.
- Convince your lawyer to do everything possible to get listed on the bank’s panel of solicitors
We have rather assertive vendors who has suggested a lock out contract with a deposit of 5k. Are such agreements sensible?
There are two main concerns with executing a lock out contract (sometimes termed a shut-out contract) is that it takes away the focus from moving forward with the conveyancing work, so in the absence of it needing limited or no negotiation then it could turn out to be a cause of frustration and delay. It is not particularly popular by Tredegar conveyancing practitioners for this reason. A supplemental negative is the extent of the remedies available - a jilted purchaser is extremely unlikely to win an injunction to bar the owner completing the sale to an alternative purchaser, so the only remedy available under the contract will be the recovery of abortive costs and, in restricted circumstances, the extra payment of damages.
Do I need to attend the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Tredegar so that I can pop in to their offices when needed.
Whereas this was necessary 15 years ago, almost all mortgage companies no longer need their conveyancing panel lawyer to witness the mortgagors signature. It will still be necessary for you to hand over ID documents and there are still distinct benefits to using a local solicitor, in your situation a conveyancing solicitor in Tredegar.
I have been told by my conveyancer that absentee landlord insurance is required on my purchase. What is the level of cover for Tredegar conveyancing?
The right level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Virgin Money. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am currently in the process of buying my council flat in Tredegar. I have a mortgage offer with Principality. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Completion of my remortgage has taken place for my property in Tredegar. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I have justbeen informed that Stirling Law have closed. They carried out my conveyancing in Tredegar for a purchase of a leasehold apartment 12 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tredegar conveyancing specialists.