My husband and I are planning to purchase a flat in Blaina and have instructed a Blaina conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this evening contacted us to advise us that there is now an issue as our Blaina lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also represent 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 lender 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Blaina solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Why is leasehold purchase conveyancing in Blaina costs more?
Blaina leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Blaina so that I can pop in to their offices when needed.
As opposed to ten years ago, the vast majority banks no longer need their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to hand over identification documents and there are still distinct benefits to using a locally based solicitor, in your case a conveyancing solicitor in Blaina.
This question may be naive but I am unseasoned as a 1st time buyer of a garden flat in Blaina. Do I receive the keys to the house on the completion date from my conveyancer? If this is the case, I will find a High Street conveyancing solicitor in Blaina?
On the day of completion you will not be required to attend the conveyancers office in Blaina. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s conveyancers, and once they have received this, you should be called to pick up the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
is it true that all Blaina conveyancing solicitors on the Santander conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Santander conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Blaina solicitor - who is on the RBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Blaina postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Blaina.
Should I be concerned about brokers that I am dealing with are encouraging me to use a web based conveyancing firm as opposed to a High Street Blaina conveyancing practice?
As with lots of service providers, often suggestions from family and friends can be worth their weight in gold. But there are lots of parties with a keen interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may put forward lawyers to retain. Sometimes the conveyancers might be known to one of the organisations as experts in their field, but occasionally there behind the scenes financial incentive behind the endorsement. You have the right to appoint your own lawyer. Don't forget that most mortgage providers specify a panel list of lawyers you have to use for the lender related work in your transaction.
As co-executor for the will of my uncle I am selling a house in Newport but reside in Blaina. My conveyancer (approximately 300 miles awayneeds me to execute a stat dec prior to completion. Could you suggest a conveyancing solicitor in Blaina to attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are located in Blaina