Can you help? My Rhayader lawyer is advising me that she is duty bound toconduct Rhayader conveyancing searches asthe firm are on the Virgin Moneyapproved lawyer panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Rhayader conveyancing searches.
We see that you have a post code search directory identifying law firms on the Nationwide conveyancing panel. Do firms pay you a referral fee if I appoint them for our own conveyancing in Rhayader?
We are a listing service only for law firms wishing to communicate if they are on the Nationwide conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Rhayader.
What is your number one tip for choosing a conveyancing solicitor in Rhayader
It would be unwise to be tempted by the lowest Rhayader conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I'm the sole beneficiary of my late mum's will and I have everything in my name alone, including the house in Rhayader. Conveyancing formalities meant that the Land Registry date was in December. I plan to dispose of the house. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges 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. Some mortgage companies would take a practical view as this obligation is chiefly there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
We were going to get a AIP from Nationwide this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Rhayader solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint Rhayader solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
Just bought a terraced house in Rhayader , What is the estimated time for the Land Registry to record my title? My Rhayader conveyancing solicitor has been very slow, so I want to check the registration formalities are addressed.
As far as conveyancing in Rhayader is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timescales can adjust depending on the party submitting the application, whether there are errors and whether the Land registry communicate with any other persons or bodies. At present approximately 80% of such applications are fully dealt with within 12 days but occasionally there can be extensive hold-ups. Registration takes place after the purchaser has moved in to the property therefore 'speed' is not typically top priority but if it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
How does conveyancing in Rhayader differ for newly converted properties?
Most buyers of new build residence in Rhayader contact us having been asked by the seller to sign contracts and commit to the purchase even before the residence is finished. This is because new home sellers in Rhayader usually acquire 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 property lawyers 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 accustomed to new build conveyancing in Rhayader or who has acted in the same development.