We are buying a 1 bedroom flat in Roath with a mortgage. We have a Roath conveyancer, however the lender advise he's not on their "panel". It appears that we have little option but to use one of the mortgage company panel firms or retain our Roath conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Roath conveyancing solicitor to apply to be on the conveyancing panel.
Please help. My Roath lawyer is advising me that he is legally obliged toconduct Roath conveyancing searches due to the fact thatthe firm are on the Santanderconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Roath conveyancing searches.
We are purchasing a flat in Roath. It might be a silly question but how we can trust a conveyancer? On the day of competition we will need to send our life savings into their account. What is the protection we have from them run away with our deposit?
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 relative advised me that in buying a property in Roath there could be various restrictions prohibiting external changes to a property. Is this right?
We are aware of anumerous of properties in Roath which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Roath should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Intending to buy a apartment in Roath. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Aldermore conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Roath property lawyer is on the Aldermore conveyancing panel.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Roath I like with amenity areas and transport links nearby, the downside is that it only has 51 remaining years left on the lease. There is not much else in Roath in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
My brother has suggested that I use his conveyancing solicitors in Roath. Should I find my own solicitor?
No doubt the best way to select a conveyancing practitioner is to get guidance from friends or family who have actually used the conveyancer that you are contemplating using.