We wanted to use a conveyancing solicitor in Bangor for our house move. Our broker informed us that our bank Clydesdale won't deal with them. Why is this not regarded as unduly restrictive?
A decade ago most banks had a different appetite for risk. Almost all Bangor conveyancing firms would have been on most mortgage company panels. The financial services regulator in 2010 carried out a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms concerning their operations and their employees and establishing certain criteria such a completing on a minimum amount of conveyancing. Many Bangor 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. Bangor is amongst the numerous locations where the conveyancers we recommend are are approved Clydesdale.
A relative pointed out to me me that in purchasing a property in Bangor there could be various restrictions limiting what one can do in terms of external changes to a property. Is this right?
We are aware of anumerous of properties in Bangor which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Bangor should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as RBS, do Bangor property lawyers face a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
We have agreed to purchase a house in Bangor. One unusual aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Kent Reliance your lawyer must follow the formal requirements contained in Part two of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to Kent Reliance where a lease does not comply with these provisions. The specifications relate to the installation of panels on properties countrywide and is not limited to Bangor.
We are intent on selling our property in Bangor and the buyers lawyers are claiming that there is a possibility that the property was constructed on contaminated land. Any high street Bangor lawyer would know this is not the case. For the life of me I don't know why the purchasers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in Bangor. We have lived in Bangor for 5 years we know that this is a non issue. Do we get in touch with our local Authority to obtain clarification need.
It would appear that you have a conveyancing lawyer already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Are there restrictive covenants that are commonly identified during conveyancing in Bangor?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Bangor. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Do I need to be wary that third parties that I am dealing with are suggesting an internet conveyancing firm as opposed to a local Bangor conveyancing firm?
As is the case with lots of service providers, often referrals from family and friends can be most helpful. Nevertheless there are many players in a conveyancing matter; estate agents, financial adviser and banks might all suggest conveyancers to retain. On occasion these lawyers might be known to one of the organisations as being good in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to select your preferred conveyancer. However, bear in mind that most lenders operate an approved list of law firms you have to use for the lender aspect of your conveyancing.
My husband and I are first time buyers - agreed a price, but the selling agent told us that the seller will only go ahead if we appoint their chosen conveyancers as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor with experience of conveyancing in Bangor
It is unlikely the vendors are driving this. Should the vendor require ‘a quick sale', alienating a serious buyer is going to damage their objectives. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to progress, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you will continue to instruct your preferred Bangor conveyancing solicitors - rather thanthose that will give their estate agent a introducer fee or achieve conveyancing thresholds demanded by head office.