My partner and I are looking to buy a home in Merthyr Tydfil and are in fact using a Merthyr Tydfil conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Yorkshire Building Society have this evening contacted us to advise us that they have now hit a problem as our Merthyr Tydfil conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Merthyr Tydfil lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My wife and I are about to complete buying a property in Merthyr Tydfil but as a result of damage from a small fire at the property I have was able negotiate recompense from the current proprietors in the sum of six thousand pounds taking the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process yet Virgin Money will not agree to this. Why were they notified?
The lawyer that is on the Virgin Money conveyancing panel is duty bound to advise Virgin Money of any amendments to the purchase price. If you were to refuse your conveyancer to report the reduction to Virgin Money then they would have to discontinue acting for you. In addition, Virgin Money and you would have to appoint a new solicitor for your conveyancing in Merthyr Tydfil.
Can I use your services to find a Conveyancing solicitor in Merthyr Tydfil even where I’m not buying or disposing of a house, for instance where I want to acquire a shop in Merthyr Tydfil with a loan from Nottingham Building Society?
Our search tool is mainly used to select domestic conveyancing solicitors in Merthyr Tydfil but we have recorded towards the end of this page a selection of Merthyr Tydfil commercial conveyancing firms. You should speak with the company directly to establish if they are also authorised to represent Nottingham Building Society
I am looking for a ground for flat up to £305k and found one near me in Merthyr Tydfil I like with amenity areas and railway links nearby, however it's only got 61 years on the lease. There is not much else in Merthyr Tydfil in this price bracket, so just wondered if I would be making a mistake purchasing a short lease?
Should you require a home loan the shortness of the lease may be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I have been sourcing a conveyancing solicitor in Merthyr Tydfil for my sale. Can I see a solicitor's complaints history with the legal regulator?
You may search for presented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The SRA could recorded call for training purposes.