I am progressing with the sale of my house in Rhiwbina and the EA has just called to say that the buyers are appointing a new conveyancer. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. Why would a major mortgage company only work with certain lawyers rather the firm that they want to appoint for their conveyancing in Rhiwbina ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lending institutions justify this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms 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. Your buyers are unlikely to have any sway in the decision.
AssumingI was to buy a simple residential homein Rhiwbina for cash and dispense with a survey and no local authority searches how much should I expect to to save on my conveyancing in Rhiwbina?
The sole reduction in fees you would make on is the disbursement for searches. The conveyancer still got to do everything else - money laundering, liaising with your vendors lawyer, SDLT submission, register the property etc. You might save a bit for them not needing to register a charge however it will not be meaningful.
What is the difference between a licensed conveyancer and conveyancing solicitor in Rhiwbina
There are two types of lawyers who can conduct conveyancing in Rhiwbina namely CLC regulated conveyancers or solicitors. The two can handle conveyancing services that you need to complete the sale or purchase of property. They are both duty bound to carry out Rhiwbina conveyancing on similar standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally conducted and that all requirements and procedures will be accurately adhered to.
I am expecting a AIP from Coventry BS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Coventry BS recommend any Rhiwbina solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Rhiwbina solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
After months of negotiation I have agreed a price on a house in Rhiwbina. My financial adviser pressured me to appoint their property lawyer. I paid an on account payment of £200. Soon after, the solicitor called me sheepishly admitting that they were not on the RBS 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 RBS 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'm purchasing a new build house in Rhiwbina with a loan from Godiva Mortgages Ltd. The sellers refused to move on the price so I negotiated 6k of extras instead. The house builders rep suggested that I not reveal to my solicitor about the deal as it will put at risk my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the guidance of my in-laws I had a survey completed on a property in Rhiwbina before appointing lawyers. I have been advised that there is a flying freehold element to the house. My surveyor has said that some banks may refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to call us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Rhiwbina. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rhiwbina to see if the conveyancing will be more expensive.
Is planning consent necessary to split a single dwelling into a couple of flats in Rhiwbina? This has been carried out to a house next door to my home in Rhiwbina and was ignorant of it happening until it was finished.
Planning consent is required for splitting a single house in Rhiwbina into apartments but possibly not for converting once again to single dwelling-house so, in answer to your query, yes.