Why do I have to pay up front for my conveyancing in Builth Wells?

Where you are retaining lawyers for conveyancing in Builth Wells your lawyer will request that you put them with monies to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is as part of the purchase price then this will be needed immediately in advance of exchange of contracts. The final balance that is needed should be sent to your lawyer shortly before completion.

Can you clarify what the consequences are if my lawyer’s firm is expelled from the TSB Solicitor panel ahead of completing my conveyancing in Builth Wells?

First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.

Are all Builth Wells Conveyancing Quality Solicitors on the Santander conveyancing list of approved firms?

Some major lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.

The formalities of my remortgage has taken place for my property in Builth Wells. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?

Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.

I recently had an offer accepted on an apartment in Builth Wells. My mortgage broker pressured me to appoint their property lawyer. I paid an on account payment of £175. Shortly after, the solicitor called me to say that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

I am buying my first flat in Builth Wells with a loan from Lloyds TSB Bank. The developers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not to tell my conveyancer about the extras as it could put at risk my loan with the lender. Is this normal?.

All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.

Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.

Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.

Do online conveyancing organisations do everything a local Builth Wells solicitor does or must I use a solicitor for the final stages for my conveyancing in Builth Wells?

If you instruct an online conveyancer they will cover all the tasks your Builth Wells solicitor would cover.