I am in the process of selling my flat in Llantwit Major and the estate agent has just called to say that the purchasers are changing their conveyancer. The excuse is that the bank will only deal with solicitors on their approved list. On what basis would a major lender only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Llantwit Major ?
Banks have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
Are the Llantwit Major conveyancing solicitors identified as being on the Co-operative conveyancing panel, together with their details provided by Co-operative?
Llantwit Major conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
My bank has recommended a law firm on their panel based in Llantwit Major but I would rather choose a conveyancing lawyer in Llantwit Major round the corner to me. Can you assist?
The minority of Llantwit Major conveyancing practices are on all banks conveyancing panel. Use our find an approved solicitor tool to identify a Llantwit Major conveyancing conveyancer on the on the bank panel.
The deeds to my home can not be found. The conveyancers who dealt with the conveyancing in Llantwit Major 4 years ago have long since closed. Will I be able to sell the house?
You no longer need to hold title deeds to prove you are the registered proprietor of land or property, given that the Land Registry hold details of all registered land or property electronically.
I have been on the look out for a flat up to £245,000 and found one near me in Llantwit Major I like with amenity areas and railway links in the vicinity, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Llantwit Major in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
My father has suggested that I appoint his conveyancing solicitors in Llantwit Major. Should I use them?
No doubt it’s preferable to choose a conveyancing solicitor is to have referrals from friends or family who have used the firm that you are contemplating using.