I am progressing with the sale of my ground floor flat in Ystrad Mynach and the estate agent has just telephoned to advise that the buyers are switching conveyancer. The reason given is that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a major lender only engage with certain lawyers rather the firm that they want to choose for their conveyancing in Ystrad Mynach ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. 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. The purchasers are not going to have any sway in the decision.
My wife and I are buying a flat in Ystrad Mynach. It might be a silly question but how we can trust a lawyer? At some point we will need to send funds into their account. What protection do we have from them run away with our money?
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.
A friend informed me that in purchasing a property in Ystrad Mynach there may be a number of restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Ystrad Mynach which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Ystrad Mynach should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Last month we had a mortgage agreed in principle with Nottingham. Ystrad Mynach conveyancing practitioners were appointed. How long does it take for Nottingham to issue the offer to the lawyer?
Some lenders take longer than others. Have Nottingham completed the valuation? Have you advised Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
A relative suggested that if I am purchasing in Ystrad Mynach I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally quoted for as part of the standard Ystrad Mynach conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Ystrad Mynach around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Ystrad Mynach.
Is it simple use your search facility to choose a conveyancing lawyer in Ystrad Mynach on the approved list for my mortgage?
1st choose a bank such as Barclays , Skipton Building Society or Barclays Direct then specify your location e.g. Ystrad Mynach. Conveyancing practices in Ystrad Mynach and beyond should be shown.
My husband and I are first time buyers - had an offer accepted, but the estate agent advised that the seller will only issue a contract if we instruct the agent's recommended lawyers as they want a ‘quick sale’. Our preferred option is to instruct a family conveyancer who is familiar with conveyancing in Ystrad Mynach
It is improbable the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is going to damage their objectives. Bypass the agents and go straight to the owners and explain that (a)you are genuine purchasers (b)you are ready to go, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to use your own,trusted Ystrad Mynach conveyancing solicitors - rather thanthe ones that will provide their estate agent a introducer fee or achieve conveyancing thresholds pre-set by head office.
I today plan to offer on a house that appears to be perfect, at a great price which is making it more attractive. I have just found out that the title is leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Ystrad Mynach. Conveyancing lawyers have are about to be appointed. Will my lawyers set out the implications of buying a leasehold house in Ystrad Mynach ?
The majority of houses in Ystrad Mynach are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area can help the conveyancing process. We note that you are purchasing in Ystrad Mynach in which case you should be looking for a Ystrad Mynach conveyancing solicitor and check that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to conduct alterations. It may be necessary to pay a service charge towards the maintenance of the estate where the property is part of an estate. Your lawyer will appraise you on the various issues.