Me and my fiance are buying a 2 bedroom apartment in Nefyn with a mortgage. We have a Nefyn conveyancer, but the lender says she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Nefyn conveyancing practitioner as well as pay for one of their panel firms to represent them. This feels very unfair; are we not able to require that the mortgage company use our Nefyn lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Nefyn conveyancing solicitor to apply to be on the conveyancing panel.
I am mortgaging my property in Nefyn, does my lawyer have to be on the Co-operative Solicitor panel?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We had selected conveyancers located in Nefyn on the UBS solicitor approved list. They have just invoiced me an additional sum for dealing with the UBS mortgage. Is this an additional conveyancing fee specified by UBS?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancer may charge a fee for this. This charge is not set by UBS but by your Nefyn conveyancer. Numerous firms on the UBS panel will quote an ‘acting for lender’ fee but plenty of practices include it on their overall fee.
We expect to receive a DIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Nefyn solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Nefyn solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
I have paid off my mortgage with RBS. I assume I don't need a Nefyn conveyancing practitioner on the RBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
How does conveyancing in Nefyn differ for newly converted properties?
Most buyers of new build or newly converted property in Nefyn approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Nefyn typically acquire the land, 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 conveyancers 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 Nefyn or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what should have been a quick, no chain conveyancing. Nefyn is where the house is located. Can you shed any light on this issue?
Flying freeholds in Nefyn are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Nefyn you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Nefyn may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
My folks are encountering difficulties in finding their Nefyn property on the HM Land Registry website. They recall that sixty years ago when they acquired the property there were complications regarding Nefyn not being identified on some systems.
Nearly all residences in Nefyn should show up. Have you tried a search with simply the postcode. Ordinarily it should mention all the residences within the postcode. Assuming the property is recorded it will show up with a title number. If they bought back in the 70’s it's conceivable it may be unrecorded. The address could still be revealed but with the title number identified as 'na'. In this scenario you will need to locate the original title deeds which could be with your parent’s mortgage company.