We wanted to use a property lawyer in Y Felinheli for our home move. Our broker has since advised us that our bank The Royal Bank of Scotland won't deal with them. Why is this not regarded as unfair competition?
A decade ago most lenders had a different appetite for risk. Almost all Y Felinheli conveyancing firms would have been on many mortgage company panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms concerning their operations and their employees and set certain criteria such a completing on a minimum amount of conveyancing. Many Y Felinheli conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Y Felinheli is one of the thousands of locations where the solicitors showing on our search results are are authorised to act for The Royal Bank of Scotland.
Can you help - my lawyer advises that lack of right of way insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Y Felinheli?
The appropriate level of lack of right of way indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Chelsea Building Society. Conveyancing lawyers as opposed to members of the public take out such insurances.
I can not work out if my mortgage offer requires a lease extension. I have called into my local Y Felinheli bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Y Felinheli conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they will not lend based on their specific requirements. Who do I believe?
The solicitor has to follow the Council of Mortgage Lenders’ Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my flat. I had a double glazing fitted in June 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Skipton are being problematic. The Y Felinheli solicitor who is on the Skipton conveyancing panel is saying indemnity insurance will be fine but Skipton are requiring a building regulation certificate. Why do Skipton have a conveyancing panel if they don't accept advice from them?
It is probably the case that Skipton have referred the matter to their valuer. The reason why Skipton 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.
Should our solicitor be raising enquiries about flooding during the conveyancing in Y Felinheli.
Flooding is a growing risk for lawyers conducting conveyancing in Y Felinheli. There are those who purchase a house in Y Felinheli, completely aware that at some time, it may be flooded. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, but there are a numerous checks that may be undertaken by the buyer or by their conveyancers which will figure out the risks in Y Felinheli. The standard property information forms given to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to discover whether the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a purchaser could commence a legal claim for losses resulting from an misleading answer. A buyer’s solicitors may also carry out an environmental search. This will disclose if there is any known flood risk. If so, additional investigations should be conducted.
I have a semi-detached Georgian property in Y Felinheli. Conveyancing lawyer represented me and Halifax. I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold with the matching property. Is it worth asking Halifax to clarify?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Y Felinheli and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing solicitor who conducted the conveyancing.
We're first time buyers - agreed a price, but the property agent informed us that the seller will only issue a contract if we appoint the agent's preferred conveyancers as they need a ‘quick sale’. We would rather use a high street solicitor with experience of conveyancing in Y Felinheli
We suspect that the seller is unaware of this request. Should the seller desire ‘a quick sale', alienating a genuine purchaser is going to damage their objectives. Contact the vendors directly and make sure they comprehend that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)but you intend to use your own,trusted Y Felinheli conveyancing firm - not the ones that will give the negotiator at the agency a commission or meet his conveyancing thresholds set by senior management.