I am 3 weeks into the sale of my home in Conwy and the estate agent has just e-mailed to advise that the buyers are changing their solicitor. I am told that this is due to the fact that the lender will only engage with solicitors on their approved list. Why would a major mortgage company only engage with specific solicitors rather the firm that they want to appoint for their conveyancing in Conwy ?
Banks have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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. The buyers are not going to have any impact on this.
We are buying a newly built duplex in Conwy and my lawyer is telling me that she is duty bound to the mortgage company to reveal incentives from the builder. I am nearing the developer’s deadline to sign contracts and I don't want to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Having sold my house in Conwy last January yet the purchaser is whats apping every few hours to moan that her solicitor is waiting to hear from mine. What should have happened now that I have sold?
After completion of your house sale your conveyancer should forward the transfer deeds and all supplemental paperwork to the purchaser's lawyers. Where appropriate, your conveyancer should also evidence that the mortgage has been redeemed to the buyers solicitors. There are no post completion procedures peculiar conveyancing in Conwy.
What is the difference between a licensed conveyancer and conveyancing solicitor in Conwy
There are many recorded licenced Conveyancers in Conwy and Solicitor practices in Conwy to choose from It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. Both can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
We have agreed to purchase a house in Conwy. An unusual aspect is that the roof has a solar panel. HSBC have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with HSBC your lawyer must check the formal requirements contained in Part two of UK Finance Lenders’ Handbook for HSBC. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to HSBC where a lease fails to satisfy these conditions. The conditions relate to the installation of panels on properties countrywide and is not restricted to Conwy.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Conwy conveyancing practitioner on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I have recentlyfound out that Stirling Law have closed. They conducted my conveyancing in Conwy for a purchase of a freehold house 18 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Conwy conveyancing specialists.
Having checked my lease I have discovered that there are only 72 years unexpired on my flat in Conwy. I need to get lease extension but my landlord is absent. What options are available to me?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will enable the lease to be lengthened by the Court. However, you will be required to demonstrate that you or your lawyers have made all reasonable attempts to locate the lessor. On the whole a specialist would be helpful to conduct investigations and to produce an expert document which can be accepted by the court as evidence that the landlord can not be located. It is advisable to get professional help from a property lawyer both on investigating the landlord’s absence and the application to the County Court overseeing Conwy.
Conwy Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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Where a Conwy lease has fewer than 80 years it will have adverse implications on the salability of the apartment. It is worth checking with your mortgage company that they are content with the length of the lease. A short lease means that you will almost definitely need a lease extension sooner rather than later and it is worth discovering what this will be. Remember, in most cases you will be be obliged to have been the owner of the premises for 24 months in order to be eligible to exercise a lease extension. You will want to find out as much as possible regarding the company managing the block as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to practical issues such as the cleanliness of the common parts. Ask prospective neighbours if they are happy with their management. In conclusion, investigate as to the dates that the service fees are due to the managing agents and specifically how they are spending the funds.