I am nearing exchange of contracts for my home in Abergele and the EA has just called to say that the buyers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their approved list. Why would a big named mortgage company only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Abergele ?
Lenders have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Banks blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
I am about to put a bid on a leasehold apartment in Abergele. The selling agents tell me that it is usual for flats in Abergele to have less than 75 years left on the lease. I am expecting a loan with Chelsea Building Society. Is this going to be a problem if the lease has Seventy One years unexpired.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 13/6/2022 the requirements read as follows :
I am buying a terrace house in Abergele. The intention is to carry out a loft conversion at the property.Will legal work on the property involve checks to see if these works are allowed?
Your solicitor should review the registered title as conveyancing in Abergele will on occasion reveal restrictions in the title documents which restrict certain changes or necessitated the permission of a 3rd party. Certain works need local authority planning consent and approval in accordance building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor prior to committing yourself to a purchase.
We previously appointed conveyancing lawyers locally in Abergele on the Aldermore solicitor approved list. They have just invoiced me a supplemental sum for the legal aspects of the Aldermore mortgage. Is this a supplemental conveyancing fee specified by Aldermore?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer is entitled to levy a fee for this. This fee is not dictated by Aldermore but by your Abergele solicitor. Numerous firms on the Aldermore panel will quote ’dealing with mortgage’ fee and others do not.
I am selling my house. I had a double glazing fitted in September 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Virgin Money are being difficult. The Abergele solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money 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.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a simple, chain free conveyancing. Abergele is the location of the property. What do you suggest?
Flying freeholds in Abergele are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Abergele you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Abergele may determine 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.
How do I use the search tool to locate a conveyancing practitioner in Abergele on the panel for my mortgage?
1st pick a mortgage company such as National Westminster Bank, Coventry Building Society or Alliance & Leicester then type in your preferred area such as Abergele. Conveyancing firms in Abergele and across England and Wales should be shown.
Am I best advised to instruct a Abergele conveyancing solicitor who is local to the property I am buying? We have a good friend who can deal with the legal work but they are based a couple of hundredkilometers drive away.
The primary upside of using a local Abergele conveyancing firm is that you can visit the firm to sign paperwork, hand in your ID and apply pressure on them where appropriate. Having local Abergele know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and in the main were content that must outweigh using an unknown Abergele conveyancing lawyer just because they are round the corner.