We are planning to acquire a 2 bedroom flat in Bedwas with a mortgage. We like our Bedwas lawyer, but the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel conveyancing practices or retain our Bedwas conveyancer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to require that the mortgage company use our Bedwas solicitor ?
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 lender’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. Another option that might be available is for your Bedwas conveyancing lawyer to apply to be on the conveyancing panel.
My conveyancer has uncovered a defect with the lease for the apartment we are purchasing in Bedwas. The other side have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our conveyancing practitioner says that he must be satisfied that the lender is willing to move forward with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. These conveyancing instructions must be adhered to.
It is 10 years ago since I purchased my home in Bedwas. Conveyancing lawyers have just been appointed on the sale but I am unable to locate my title deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be kept by the mortgage company or they may be in the possession of the conveyancers who handled the purchase. Secondly in most cases the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining up to date copy of the land registers. The vast majority of conveyancing in Bedwas involves registered property but in the unlikely event that your property is unregistered it adds to the complexity but is resolvable.
The Bedwas conveyancing lawyers that I appointed last week on my house acquisition in Bedwas have suddenly closed. I chose them because I needed a solicitor on the RBS conveyancing panel and my previous Bedwas lawyer was not. I paid them 275 plus VAT in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
Just had an offer accepted on a new build flat in Bedwas. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bedwas
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
New build sellers have put forward a conveyancing practitioner and I've received a quote from them. They are almost £400 cheaper than my local Bedwas conveyancer. Should I use them?
Builders often have lists of conveyancing practitioners who expedite matters and who know the seller’s documentation and solicitor. Plenty of developers offer an incentive to select a preferred conveyancing practitioner for this reason, any increased cost can be avoided and a builder will not suggest a conveyancing warehouse and run the risk of having the conveyancing delayed when they demand an exchange inside a month. The argument for not opting for the suggested conveyancer is that they may prove unwilling to fight for your interests at the risk of upsetting the developer. Where you have concerns that this may be the case you should stick with your local Bedwas conveyancing practitioner.