My partner and I are looking to purchase a property in Abercarn and have instructed a Abercarn conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Santander have this evening contacted us to advise us that they have now hit a problem as our Abercarn conveyancer is not on their approved list of lawyers. Please explain?
Where you are buying a property needing a mortgage it is normal for the purchasers' lawyers to also act for the mortgage company. 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Abercarn lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
IfI was to purchase a straightforward homein Abercarn for cash and have no survey and no conveyancing searches how much would I expect to to save on my conveyancing in Abercarn?
Any savings you would gain would be isolated to the Abercarn conveyancing searches. Your conveyancer is required to do the vast majority of work - money laundering, correspond with the vendors lawyer, SDLT submission, register the ownership etc. You might save a bit for them not needing to register a mortgage but it won't be significant.
My property lawyer in Abercarn is not listed on the Leeds Building Society Conveyancing Panel. Is it possible for me to continue with my family solicitor notwithstanding that they are excluded from the Leeds Building Society list of approved lawyers?
The limited options open to you here include:
- Complete the purchase with your preferred Abercarn lawyers but Leeds Building Society will need to use a lawyer on their panel. This will result in additional overall legal charges and result in delays.
- Choose an alternative solicitor to act in the purchase, remembering to check they are on the Leeds Building Society panel
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Abercarn is the location of the property. Can you offer any opinion?
Flying freeholds in Abercarn are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Abercarn you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Abercarn may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking for a conveyancing practitioner in Abercarn for my house move. Can I see a solicitor's complaints history with the legal regulator?
One can review documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
I have just appointed agents to market my garden apartment in Abercarn. Conveyancing has not commenced, however I have just had a yearly maintenance charge invoice – should I leave it to the buyer to sort out?
The sensible thing to do is pay the service charge as usual given that all ground rent and maintenance invoices will be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Abercarn Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
-
Is anyone aware of any major works in the near future that could increase the maintenance fees? It would be prudent to discover as much as possible about the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to day to day matters such as the tidiness of the common parts. You should not be shy to ask other people what they think of them. On a final note, find out the dates that you are obliged pay the service charge to the managing agents and precisely what you get for your money. The best form of lease structure is a share of the freehold. In this arrangement the leaseholders have being in charge if their destiny and even though a managing agent is often employed if the building is bigger than a house conversion, the managing agent is directed by the tenants.