Me and my partner are purchasing a 1 bedroom apartment in Tredegar with a mortgage. We wish to retain our Tredegar lawyer, however the lender says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or keep our Tredegar conveyancer and pay for one of their panel lawyers to act for them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your Tredegar conveyancing lawyer to apply to be on the conveyancing panel.
I am acquiring a property for cash in Tredegar. I have lived for the last 15 years in Tredegar. Conveyancing searches are expensive. Given that I have knowledge of the road and vicinity very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Tredegar conveyancing searches are non-obligatory. Your solicitor will ’encourage you, perhaps strongly, that you should have searches completed, but he has a professional duty to do this. Do bear in mind; if you are intend to sell the house at a future date, it could be of relevance to your future purchaser what the searches disclose. On occasion houses with no practical issues can still throw up adverse search results. A competent conveyancing solicitor in Tredegar should be able to give you some constructive advice concerning this.
How does conveyancing in Tredegar differ for newly converted properties?
Most buyers of new build residence in Tredegar approach us having been asked by the seller to sign contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Tredegar tend to buy the real estate, 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 conveyancing solicitors 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 Tredegar or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Tredegar in advance of appointing lawyers. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders tend refuse to issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Lloyds has different instructions from Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tredegar. Conveyancing will be smoother if you use a solicitor in Tredegar especially if they are familiar with such properties in Tredegar.
My husband and I are new on the property ladder - agreed a price, yet the agent informed us that the seller will only move forward if we appoint the agent's recommended solicitors as they are insisting on an ‘expedited deal’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Tredegar
We suspect that the owner is not behind this ultimatum. Should the vendor desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is not the way to achieve this. Speak to the vendors direct and make the point that (a)you are motivated purchasers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)however you will continue to use your own,trusted Tredegar conveyancing solicitors - not the ones that will earn their estate agent a referral fee or hit his conveyancing figures set by head office.
Do online conveyancing companies undertake everything a local Tredegar solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Tredegar?
If you instruct an online conveyancer they will undertake all the tasks your Tredegar conveyancer would cover.