My partner and I are looking to acquire a home in Dolgellau and are in fact using a Dolgellau conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Barclays have this evening contacted us to advise us that they have now hit a problem as our Dolgellau solicitor is not on their conveyancing panel. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is standard for the purchasers' lawyers to also act for 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Dolgellau solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I require conveyancing for a flat in a relatively new development (five years built) in Dolgellau. Almost all the properties are already disposed of. Is it strictly necessary to order conveyancing searches as part of conveyancing in Dolgellau?
A big part of the Dolgellau conveyancing process is the conveyancing searches. There are a large number of companies who offer Dolgellau conveyancing searches, as well direct from the local authority. These are usually referred to as personal search providers and they produce, not surprisingly, personal searches. Nevertheless, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authority.
We have a mortgage agreed in principle with Aldermore. Dolgellau conveyancing solicitors were instructed. How long does it take for Aldermore to send the offer to the property lawyer?
There is no definitive answer here. Have Aldermore conducted the survey? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Dolgellau property lawyer on the UBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I was told three weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Dolgellau is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
A friend advised me that if I am purchasing in Dolgellau I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Dolgellau conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Dolgellau around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Dolgellau Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information concerning Dolgellau.
I have been on the look out for a flat up to £245,000 and found one round the corner in Dolgellau I like with a park and transport links nearby, however it only has 52 remaining years left on the lease. There is not much else in Dolgellau suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you require a mortgage that many years will be an issue. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
My husband and I are a couple of weeks into a residential purchase having been recommend to solicitors by the high street agent to perform conveyancing in Dolgellau. I am am starting to be dissatisfied with the level of service. Can you help me find new conveyancers?
They would have to be really poor in order to consider replacing them. Has your mortgage offer been issued? In the event that it has you need to advise them of the new lawyer and ensure the offer are re-sent. Your solicitor ideally should be on the mortgage company panel to avoid escalating costs and frustration. So that should be your starting point. The search tool will help you find a bank approved solicitor for your conveyancing in Dolgellau