I am 4 weeks into the sale of my home in Llangollen and the estate agent has just called to say that the buyers are appointing a new solicitor. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a major mortgage company only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Llangollen ?
UK lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Nationwide, have considered 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 oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some 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 unlikely to have any sway in the decision.
I am looking to buy a property and need a conveyancing solicitor in Llangollen who is on the Accord Mortgages Ltd conveyancing. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Llangollen. We dont recommend any particular firm.
My wife and I are buying a property in Llangollen. I might seem paranoid but how we can trust a solicitor? At some point we have to deposit funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Can I be sure that the Llangollen conveyancing solicitor on the UBS panel is any good?
When it comes to conveyancing in Llangollen getting recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advocate that you speak with the solicitor handling your conveyancing.
I was told two weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Llangollen is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
What does a local search reveal regarding the property my wife and I purchasing in Llangollen?
Llangollen conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for example PSG The local search is essential in every Llangollen conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I am buying a new build house in Llangollen with a loan from Barclays . The developers would not reduce the price so I negotiated 6k of extras instead. The estate agent suggested that I not reveal to my conveyancer about this extras as it may jeopardize my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
What tools are available to search for a Llangollen law firm on the Aldermore conveyancing panel? I have wheels and am prepared to travel upto 20miles to meet the conveyancer.
You can use the search on this page. Please choose the mortgage company and your location and you will see a number of Llangollen conveyancing lawyers locally. We have detailed some Llangollen conveyancing firms towards the end of this page and you can call them to see whether they are on the Aldermore approved list