I am six weeks into the sale of my house in Vale Of Glamorgan and the estate agent has just e-mailed to warn that the buyers are swapping property lawyer. The excuse is that the lender will only work with property lawyers on their approved list. On what basis would a major lender only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Vale Of Glamorgan ?
UK lenders have always had panels of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies attribute this action to a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
I am buying a property mortgage free in Vale Of Glamorgan. I have resided for the previous 20 years in Vale Of Glamorgan. Conveyancing searches are expensive. Given that I know the area and road very well must I have all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the Vale Of Glamorgan conveyancing searches are at your discretion. Your conveyancer will ’encourage you, perhaps strongly, that you should have searches carried out, but she has a professional duty to do this. Do take into account; if you are going to sell the house in the future, it will be of relevance to your future purchaser what the searches contain. On occasion houses with apparent issues can still throw up unfavourable search results. A good conveyancing solicitor in Vale Of Glamorgan will provide you some sensible guidance here.
It is a dozen years since I acquired my home in Vale Of Glamorgan. Conveyancing solicitors have just been instructed on the sale but I can't find the title documents. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be with your lender or they may be in the possession of the lawyers who acted in the purchase. Secondly in most cases the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining up to date copy of the land registers. Almost all conveyancing in Vale Of Glamorgan involves registered property but in the unlikely event that your home is unregistered it is more problematic but is resolvable.
Will my conveyancer be asking questions regarding flooding during the conveyancing in Vale Of Glamorgan.
Flooding is a growing risk for conveyancers conducting conveyancing in Vale Of Glamorgan. Plenty of people will buy a property in Vale Of Glamorgan, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous checks that may be undertaken by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Vale Of Glamorgan. The standard property information forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to determine whether the premises has suffered from flooding. If the property has been flooded in past and is not disclosed by the seller, then a purchaser could bring a compensation claim as a result of such an incorrect answer. A purchaser’s solicitors should also carry out an environmental report. This should disclose whether there is any known flood risk. If so, further investigations should be conducted.
I am buying a new build flat in Vale Of Glamorgan. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Vale Of Glamorgan
There must be mutual enforceability of lessee’s covenants. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan.