I can't travel far from Rudry. Is there a reason why all Rudry property lawyers aren't included on all mortgage company panels?
Lenders tend to impose restrictions on either the nature or volume of conveyancing firms on their approved list of lawyers. Frequent examples of such criteria being that the organisation needs to have two or more partners. As well as restricting the nature of firm, some have decided to reduce the size of their panel they allow to act for them. It is worth noting that building societies have no accountability for the standard of conveyancing given by any Rudry lawyer on their approved list. Mortgage fraud was the primary trigger for the reduction of solicitor panels from 2008 notwithstanding that there are differing views concerning the extent of solicitor involvement in some of that fraud. Data from the Land Registry exposes that thousands of conveyancing organisations only conduct a couple of conveyances annually. Those supporting conveyancing panel consolidation ask why law firms should have the right to be on a bank panel when it is evident that conveyancing is not their primary expertise?
Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Rudry so that I can pop in to their offices when needed.
Nowadays conveyancing panel lawyers for banks undertake the vast majority of work through Royal Mail, internet or over the phone. This enables them to conduct the legal work for your home move no matter where you live in England or Wales. However you can check if you have the option of attending the offices of your conveyancing lawyer if needed.
A relative informed me that in purchasing a property in Rudry there could be various restrictions affecting the ability to carry out external changes to the property. Is this right?
We are aware of anumerous of properties in Rudry which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Rudry should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to exchange contracts on my flat. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Barclays are being problematic. The Rudry solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My sealed bid on a detached house in Rudry has been accepted, the owners do nevertheless have a tied purchase. The sellers have offered on a flat, however it’s not yet agreed to, and are looking at other properties booked. I have selected a nearby conveyancing solicitor in Rudry. What do I do now? When should I get the mortgage application with Kent Reliance started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then survey, Rudry conveyancing search charges, etc). First, you should check that your conveyancer is on the Kent Reliance approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, attraction to this property and on the state of the market. In a rising market many buyers will apply for the mortgage with Kent Reliance and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to press on with searches.
I am intent on selling our home in Rudry and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers are using an online conveyancing outfit as opposed to a conveyancing solicitor in Rudry. We have lived in Rudry for six years we know that this is a non issue. Do we get in touch with our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
How does conveyancing in Rudry differ for newly converted properties?
Most buyers of new build property in Rudry contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Rudry usually buy 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 used to new build conveyancing in Rudry or who has acted in the same development.
18 days into buying a property in Rudry. Conveyancing lawyer has called to say the property is "Leasehold". Should this make a difference on the salability of the property?
Rudry conveyancing does not normally involve leasehold houses. The crucial factor here is the length of lease and the ground rent. If it's 999 years with a nominal rent, it's almost the same as freehold, so it’s unlikely to affect the value too much.
At the other end of the spectrum, if it's, say, Sixty years it will have a adverse effect on the saleability, and most likely wouldn't be mortgageable. The remaining lease term and ground rent will be stated in the lease which should be made available to your property lawyer.