I am nearing exchange of contracts for my house in Pantymwyn and the EA has just called to say that the buyers are appointing a new solicitor. The reason given is that the bank will only engage with property lawyers on their approved list. On what basis would a leading lender only engage with certain solicitors rather the firm that they want to appoint for their conveyancing in Pantymwyn ?
Lenders have always had panels of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal 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. Some 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. The purchasers are unlikely to have any sway in the decision.
At what point will exchange of contracts take place for residential conveyancing in Pantymwyn and do I need to be at the conveyancers branch?
Where you are in close proximity to our conveyancing solicitors in Pantymwyn you are invited in to sign the paperwork. That being said, the law practices we recommend provide countrywide coverage for conveyancing and give just as comprehensive and professional a job for you when dealing with you by post or email. The executing of the purchase agreement is not the critical part. 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 a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Pantymwyn)to be in the office available at the end of the phone to exchange contracts.
Is it correct that all Pantymwyn CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing list of approved practices?
Some major lenders now use the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
About to purchase apartment in Pantymwyn. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Pantymwyn solicitor is on the Principality conveyancing panel.
I have instructed a Pantymwyn solicitor having checked that they are on the UBS conveyancing panel. Does my lawyer arrange the survey of the property?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Pantymwyn postcode. As you are getting a mortgage with UBS, you could contact them to see if they have a list of approved surveyors in Pantymwyn.
I have todayfound out that Wolstenholmes have been shut down. They carried out my conveyancing in Pantymwyn for a purchase of a leasehold apartment 9 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The easiest way to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Pantymwyn conveyancing specialists.
How does conveyancing in Pantymwyn differ for new build properties?
Most buyers of new build or newly converted property in Pantymwyn contact us having been asked by the builder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Pantymwyn typically purchase 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 property lawyers 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 Pantymwyn or who has acted in the same development.
The mortgage offer from a lender for the remortgage of my 2 bedroom flat is coming any day now. Can you suggest a low cost remortgage conveyancing solicitor in Pantymwyn ?
You are on the wrong site if you are in need of the lowest fares for conveyancing solicitors in Pantymwyn. We can offer you value for money conveyancing but we do not advertise as being the cheapest. Avoid the trap of appointing companies offering low cost conveyancing in Pantymwyn.At best, in opting for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for extras and still not receive the service required.