My husband and I are hoping to buy a property in Trefriw and are in fact using a Trefriw conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Clydesdale have this morning contacted us to inform me that they have now hit a problem as our Trefriw conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the purchaser's lender. 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 property lawyer 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 as you are at liberty to use your preferred Trefriw lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Our lender has recommended a law firm on their panel based in Trefriw but I would rather choose a conveyancing lawyer in Trefriw or nearer to where I live. Are you able to assist?
Far from all Trefriw conveyancing firms are approved and listed on all lender’s conveyancing panel. Do make the most of the above search tool to locate a Trefriw conveyancing firm on the on the bank panel.
is it true that all Trefriw solicitors on the Nationwide conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Nationwide approved list of solicitors they would need to be regulated by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in that case the firms would be regulated by the CLC.
We had appointed solicitors located in Trefriw on the UBS solicitor panel. They are now charging me a separate sum for dealing with the UBS mortgage. Is this a supplemental conveyancing fee specified by UBS?
As unfair as it may appear, as long as it’s in their Terms and Conditions or estimate then yes your conveyancer may charge a fee for this. The fee is not set by UBS but by your Trefriw solicitor. Numerous firms on the UBS panel will levy an ‘acting for lender’ fee and others do not.
I have decided to exercise my right to buy my property in Trefriw off the council. I have a mortgage agreed with Virgin Money. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
How does conveyancing in Trefriw differ for newly converted properties?
Most buyers of new build or newly converted property in Trefriw come to 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 developers in Trefriw tend to 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 conveyancers 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 used to new build conveyancing in Trefriw or who has acted in the same development.
What type of premises does your Trefriw conveyancing estimates relate to?
Our conveyancing quotes are only applicable to standard domestic premises in England & Wales. Where you have any different requirements for example industrial or agricultural property or commercial conveyancing in Trefriw you should contact us to discuss this further .