My fiance and I are hoping to acquire a house in Rhiwbina and have appointed a Rhiwbina conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Lloyds TSB Bank have this evening contacted us to inform me that they have now hit a problem as our Rhiwbina conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also represent the purchaser's lender. 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 Accreditation Scheme. Your solicitor 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 lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Rhiwbina solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
When does exchange of contracts take place for sale conveyancing in Rhiwbina and do I need to attend the lawyers office?
If you are local to our conveyancing solicitors in Rhiwbina you are welcome to come in to sign contracts. That being said, the law practices we work with supply a nationwide conveyancing service and provide as equally diligent and professional a job for you when communicating with you electronically. The executing of the contract is not the critical part. A signed contract is necessary for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Rhiwbina)to be in the office at the appropriate time.
I happen to be the sole beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Rhiwbina. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my property ownership will be considered the same way as if I'd bought the property in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some mortgage companies would take a sensible view as this obligation primarily exists to pick up on the purchase and immediately sell or the quick reselling of properties.
is it true that all Rhiwbina conveyancing solicitors on the Clydesdale conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do list licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
I recently had an offer accepted on a house in Rhiwbina. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £175. Shortly after, the property lawyer contacted me to say that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I used Wolstenholmes several years ago for my conveyancing in Rhiwbina. I now require my file but the law firm has closed. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Rhiwbina of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Just had an offer accepted on a new build flat in Rhiwbina. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Rhiwbina
-
Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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.
Should I be suspicious that 3rd parties that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a High Street Rhiwbina conveyancing firm?
As with lots of professional services, often referrals from relatives can be worth their weight in gold. But there are lots of people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may recommend lawyers to use. On occasion the conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the endorsement. You have the right to appoint your own lawyer. However, bear in mind that some lenders specify a panel list of law firms you have to use for the mortgage related work in your house move.