Unfortunately I am unable to travel far from Roath Park. What is the rationale as to why all Roath Park conveyancers are not on all mortgage company panels?
Before the recession most lenders displayed an approach to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into property fraud which in summary warned lenders: know the conveyancers on your panel. Accordingly, mortgage companies have since looked to extract more information from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of law practices have found themselves removed from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum amount of transactions the lenders insisted on.
We see that you have a post code search directory listing solicitors on the Nottingham conveyancing panel. Do firms pay you a referral fee if I instruct them for our own conveyancing in Roath Park?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Roath Park.
We are purchasing a newly converted apartment in Roath Park with a homeloan from Accord Mortgages Ltd.We use our Roath Park conveyancing solicitor but Accord Mortgages Ltd says his firm is not listed on their "panel". It seems we are left with little choice but to instruct a Accord Mortgages Ltd panel firm or retain our high street solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; Can we not simply insist that Accord Mortgages Ltd use our lawyer?
No, not really. The mortgage issued to you is subject to its terms and conditions, a common one being that conveyancers needs to be on the Accord Mortgages Ltd approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Accord Mortgages Ltd
Forgive me if this question is silly but I am unexperienced as a first time purchaser of a two bedroom flat in Roath Park. Do I collect the keys to the house on completion from my conveyancer? If this is the case, I will use a High Street conveyancing solicitor in Roath Park?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to collect the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
I am purchasing a property in Roath Park. An unusual aspect is that the roof has a solar panel. Clydesdale have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Clydesdale your lawyer must comply with the conveyancing requirements set out in Section 2 of UK Finance Lenders’ Handbook for Clydesdale. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Clydesdale where a lease does not meet these requirements. The provisions relate to the installation of panels on properties nationwide and is not limited to Roath Park.
I have a mortgage with Barclays for my property in Roath Park. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
You must advise Barclays before letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel solicitor.
About to purchase a new build apartment in Roath Park. Conveyancing is daunting 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 conveyancing.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Roath Park
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Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. There must be mutual enforceability of lessee’s covenants. Please confirm the Lease plans are surveyor prepared.
I have been sourcing a conveyancing practitioner in Roath Park for my home move. Can I review a solicitor's record with the profession’s regulator?
You may read documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training reasons.