Am I correct in assuming that the fact that my solicitor in Monmouth is not identified on my bank's solicitor panel that there is a problem with the standard of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Monmouth conveyancing firm and enquire why they are no longer on the approved list for your lender.
At what point can the exchange of contracts take place for domestic conveyancing in Monmouth and am I required to attend the lawyers office?
If you are round the corner to our conveyancing solicitors in Monmouth you are welcome to come in to sign contracts. That being said, the firms we work with offer a countrywide conveyancing service and give as equally detailed and professional a job for you when dealing with you electronically. The signing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Monmouth)to be in the office available at the end of the phone to exchange contracts.
I am currently in the process of buying my council flat in Monmouth. I have a mortgage agreed with TSB. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with TSB, you will need to appoint a solicitor on the TSB conveyancing panel.
The formalities of my purchase has taken place for my property in Monmouth. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My offer was accepted on an apartment in Monmouth on 8/3/2024, valuation was booked five days after, all came back fine. Solicitor appointed, so all that was missing was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
My wife and I purchased a 4 bedroom Victorian house in Monmouth. Conveyancing solicitor acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Monmouth and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with your conveyancing lawyer who conducted the work.
How does conveyancing in Monmouth differ for new build properties?
Most buyers of new build residence in Monmouth come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because developers in Monmouth tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Monmouth or who has acted in the same development.
Do you have any advice for leasehold conveyancing in Monmouth from the point of view of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Monmouth can be bypassed if you get in touch lawyers the minute you market your property and ask them to collate the leasehold documentation needed by the buyers’ conveyancers. You believe that you know the number of years left on your lease but it would be advisable double-check via your lawyers. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is less than 80 years. In the circumstances it is essential at an early stage that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. If you hold a share in a the Management Company, you should make sure that you are holding the original share document. Obtaining a re-issued share certificate is often a lengthy formality and slows down many a Monmouth conveyancing deal. Where a new share is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible. If there is a history of any disputes with your freeholder or managing agents it is very important that these are resolved prior to the flat being marketed. The buyers and their solicitors will be warry about purchasing a flat where a dispute is unsettled. You will have to accept that you will have to discharge any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled ahead of the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is clearly preferable to present the dispute as historic as opposed to ongoing.
Leasehold Conveyancing in Monmouth - Examples of Questions you should consider before buying
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What is the length of the lease? What prohibitions are there in the Monmouth Lease?