I am in the process of selling my home in Trefnant and the estate agent has just telephoned to warn that the buyers are changing their law firm. I am told that this is due to the fact that the lender will only engage with property lawyers on their approved list. On what basis would a leading lender only deal with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Trefnant ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the past few 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 more than 15 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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 not going to have any impact on this.
As a FTB what is the most important number one tip you can impart about purchase conveyancing in Trefnant?
You may not hear this from too many lawyers but conveyancing in Trefnant and elsewhere in England and Wales is an adversarial process. Put another way, when it comes to conveyancing there is plenty of room for conflict between you and others involved in the home moving process. For example, the seller, selling agent and sometimes the mortgage company. Appointing a law firm for your conveyancing in Trefnant should not be taken lightly as your conveyancer is your adviser, and is the ONE party in the process whose interest is to protect your best interests and to protect you.
On occasion a potential adversary may try and persuade you that it is in your interests to do things their way. For example, the selling agent may claim to be helping by suggesting your lawyer is wrong. Or your mortgage broker may tell you to do something that is contrary to your conveyancers recommendation. You should always trust your lawyer above all other parties in the conveyancing process.
My wife and I are buying a property in Trefnant. I might seem paranoid but how we can trust a conveyancer? At some point we have to deposit funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the sole beneficiary of my late father’s estate and I have everything in my name alone, including the my former home in Trefnant. The Trefnant property was put into my name in August. I want to move. I understand that there is a Mortgage Lenders six month 'rule', meaning my proprietorship could be regarded the same way as if I'd bought the house in August. Do I have to wait half a year to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How sensible a view lenders take of it, depend on the lender as this obligation principally exists to capture subsales or the flipping of property.
I am purchasing a property in Trefnant. A rare aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Yorkshire BS your lawyer must follow the conveyancing instructions contained in Section two of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook stipulates minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Yorkshire BS where a lease fails to satisfy these provisions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Trefnant.
We are buying a house and the conveyancer has identified Chancel Repair for which the house may be obligated to pay given it’s proximity to the area of such a church. He has suggested insurance. Is this strictly required for conveyancing in Trefnant
Unless a previous purchase of the house took place post 12 October 2013 you could assume that lawyers conducting conveyancing in Trefnant to remain encouraging a chancel search and or insurance against a claim.
I have justbeen informed that Action Conveyancing have been shut down. They conducted my conveyancing in Trefnant for a purchase of a leasehold flat 18 months ago. How can I check that my home is registered correctly in the name of the former proprietor?
The easiest way to check if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Trefnant conveyancing specialists.
My husband and I are first time buyers - agreed a price, yet the selling agent advised that the vendor will only move forward if we appoint their recommended conveyancers as they are insisting on a ‘quick sale’. Our preferred option is to instruct a local solicitor used to conveyancing in Trefnant
It is improbable the owners are behind this. Should the vendor want ‘a quick sale', alienating a serious purchaser is is going to put the whole deal at risk. Speak to the owners direct and explain that (a)you are serious purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you are going to instruct your own,trusted Trefnant conveyancing solicitors - not the ones that will earn the estate agent a introducer fee or hit his conveyancing thresholds demanded by corporate headquarters.