My partner and I are looking to buy a house in Milford Haven and have appointed a Milford Haven conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Yorkshire Building Society have this evening contacted us to inform me that there is now an issue as our Milford Haven solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent 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 mortgage company 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Milford Haven solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Forgive me if this question is silly but I am new to the home moving as a first time buyer of a ground floor flat in Milford Haven. Do I receive the keys to the property on the completion date from my conveyancer? If this is the case, I will instruct a High Street conveyancing solicitor in Milford Haven?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be able to receive the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
Are all Milford Haven Conveyancing Quality Solicitors on the TSB conveyancing list of approved solicitors?
It is true that some banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
We expect to receive a OIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Milford Haven solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Milford Haven solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one close by in Milford Haven I like with a park and transport links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Milford Haven suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the property for a minimum of 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
Given that I am about to spend 450k on a house in Milford Haven I wish to have a conversation with the conveyancer regarding thetransaction in advance of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the solicitor who will be doing your property ownership legalities in Milford Haven.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The practices that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Milford Haven should be the figure that you are charged.
I need to find a conveyancing solicitor for some conveyancing in Milford Haven. I happened to discover a site which appears to be the ideal answer If there is a chance to get all the legals done via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am looking for Milford Haven competitive conveyancing fees. Can I be assured that all the Milford Haven firms that are listed on your website are on the lender conveyancing panel?
The solicitor and licensed conveyancing practices listed on our site have advised us that they are on the lender panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Milford Haven conveyancing solicitor being on the lender conveyancing panel is incorrect.