Am I correct in assuming that the fact that my solicitor in Cardigan is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of her work?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Cardigan conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
What happens if my solicitor is suspended from the RBS Solicitor panel ahead of completing my conveyancing in Cardigan?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am the only beneficiary of my late father’s will and I have everything in my name alone, including the house in Cardigan. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership could be considered the same way as though I had purchased the property in November. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. Most lenders would take a sensible view as this requirement is primarily there to identify subsales or the quick reselling of property.
Does a directory service exist listing Principality panel solicitors in Cardigan on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings open the public over the internet. If you are in need of a Cardigan conveyancing practitioner on the Principality please make the most of our tool.
We previously chose conveyancers locally in Cardigan on the Coventry BS solicitor approved list. They have just billed me an additional amount for handling the Coventry BS mortgage. Is this a supplemental conveyancing fee set by Coventry BS?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor may levy a fee for this. This fee is not set by Coventry BS but by your Cardigan conveyancing practitioner. Plenty of firms on the Coventry BS panel will quote ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
How does conveyancing in Cardigan differ for new build properties?
Most buyers of new build property in Cardigan come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because builders in Cardigan tend to buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Cardigan or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Cardigan in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some banks tend not give a mortgage on such a premises.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you contact us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Cardigan. Conveyancing may be slightly more expensive based on your lender's requirements.
I require the services of a mortgage company panel solicitor in Cardigan. Can you assist?
Unfortunately it’s not apparent why you need a Cardigan panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in Cardigan are on their panel . If you do find such a firm in Cardigan not listed please direct them to our site to list. At a fee of one pound per month it is not expensive to register on the site