We are buying a 3 bedroom flat in Cwmbran with a mortgage. We like our Cwmbran solicitor, but the bank says she’s not on their "panel". It seems we have little choice but to instruct one of the lender panel firms or retain our Cwmbran solicitor and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Cwmbran conveyancing solicitor to apply to be on the conveyancing panel.
I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Cwmbran with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
I can see plenty of here regarding conveyancing in Cwmbran but what is your top tip for appointing the right conveyancer in Cwmbran
It would be unwise to be tempted by the cheapest Cwmbran conveyancing fees. You really do get what you pay for when it comes to property lawyers. 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 know exactly what you’ll have to pay in advance.
My bid for a property was accepted at auction in Cwmbran. Conveyancing is needed. What is next?
Given that you are now legally committed yourself to purchase you now have to appoint a conveyancing practitioner as a matter of priority as you now have a pending a drop dead date to complete the conveyancing. Every auction property will have a corresponding legal set of papers. This should include most,if not all of the documents that your lawyer will need. If you have purchased leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to leasehold premises. You should give this to the lawyer working for you at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I am currently in the process of buying my council flat in Cwmbran. I have a mortgage agreed with Principality. Conveyancing is not something I have any knowledge of. 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 Principality, you will need to appoint a solicitor on the Principality conveyancing panel.
Do commercial conveyancing searches disclose planned roadworks that could impact a commercial estate in Cwmbran?
Its becoming the norm that commercial conveyancing solicitors in Cwmbran will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Cwmbran. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Cwmbran.
For each commercial conveyancing transaction in Cwmbran it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may cause delays to Cwmbran commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Cwmbran.
Can you provide any top tips for leasehold conveyancing in Cwmbran with the purpose of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Cwmbran can be avoided where you get in touch lawyers the minute your agents start advertising the property and request that they start to put together the leasehold documentation needed by the buyers’ solicitors. The majority of landlords or managing agents in Cwmbran levy fees for providing management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management pack can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for delay in leasehold conveyancing in Cwmbran. If you have had any disputes with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved. You may think that you are aware of the number of years left on your lease but it would be wise to verify this via your lawyers. A purchaser's lawyer will not be happy to advise their client to where the remaining number of years is less than 80 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your home on the market for sale. If you have the benefit of shareholding in the freehold, you should ensure that you hold the original share certificate. Arranging a duplicate share certificate is often a lengthy process and frustrates many a Cwmbran conveyancing deal. Where a reissued share certificate is needed, do contact the company director and secretary or managing agents (where relevant) for this sooner rather than later.
Cwmbran Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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Does the lease have onerous restrictions? Please tell me if there are any major works in the near future that could add a premium to the service costs? What is the maintenance charge and ground rent on the flat?
My partner and I today discovered that one of the partners of the conveyancing practice handling the purchase conveyancing in Cwmbran is related to the seller. Is this acceptable?
Provided there is no conflict of interest this is permitted. If you are obtaining a mortgage then the mortgage company may have a say as many mortgage companies have specific requirements concerning this. For example for Clydesdale Bank as of 12/5/2024, the requirements read as follows :