Is the fact that my conveyancer in Monmouthshire is not identified on my bank's solicitor panel that there is a problem with the standard of his work?
That is most likely an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume 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. If you are concerned you should simply call the Monmouthshire conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I am considering applying for a Barclays mortgage for purchase of a new build (under development) in Monmouthshire with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Barclays ?
There is nothing to stop you using your solicitor, but Barclays will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Just had an offer accepted on a new build flat in Monmouthshire. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Monmouthshire
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please supply a car parking plan.
Due to the encouragement of my in-laws I had a survey completed on a house in Monmouthshire ahead of appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on such a home.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Monmouthshire. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Monmouthshire to see if the conveyancing costs will increase in light of this.
Am I right to be wary by estate agents that I am dealing with are encouraging me to use an online conveyancing firm as opposed to a local Monmouthshire conveyancing company?
As is the case with many service providers, often input from family and friends can be very helpful. Nevertheless there are numerous players in a conveyancing deal; estate agents, financial adviser and mortgage companies might all put forward conveyancers to use. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there might be a financial incentive behind the endorsement. You are free to choose your preferred conveyancer. You need to be aware that most lenders operate an approved list of law firms you have to use for the mortgage related work in your transaction.
My conveyancing in Monmouthshire is set to complete next Friday, yet the owners I am purchasing off has asked to vacate on the Saturday afternoon. Do I agree to such a plan?
You can't complete on a Saturday due to the bank systems are not working.