I am in the process of selling my ground floor flat in Pembroke and the estate agent has just e-mailed to warn that the buyers are changing their law firm. The excuse is that the bank will only work with solicitors on their approved list. Why would a major lender only deal with certain law firms rather the firm that they want to appoint for their conveyancing in Pembroke ?
Lenders have always had panels of law firms that can act for them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal 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. Some are unaware that 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 unlikely to have any sway in the decision.
My property lawyer in Pembroke is not on the Halifax Solicitor Panel. Can I still use my prefered solicitor notwithstanding that they are not on the Halifax approved list?
Your options are as follows:
- Carry on with your preferred Pembroke lawyers but Halifax will need to instruct a solicitor on their panel. This will result in additional total conveyancing charges as well as result in frustration.
- Get an alternative lawyer to act in the conveyancing, not forgetting to check they are on the Halifax panel
We are purchasing a 3 bedroom semi in Pembroke. The intention is to carry out an extension to the side at the house.Will legal conveyancing on the property include checks to see if these alterations are permitted?
Your property lawyer will review the deeds as conveyancing in Pembroke can sometimes reveal restrictions in the title deeds which prohibit categories of alterations or necessitated the consent of another owner. Some works require local authority planning consent and approval under the building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
When it comes to lenders such as UBS, do Pembroke conveyancing practitioners incur a yearly amount to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Pembroke building society branch on various occasions and was told they are content with the situation and they would lend. My Pembroke conveyancing solicitor - who is on the lender conveyancing panel- called and was told they would not lend based on their specific requirements. Who do I believe?
Provided that the solicitor is on the bank approved list, she or he must adhere to the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have recentlybecome aware that Wolstenholmes have been shut down. They carried out my conveyancing in Pembroke for a purchase of a freehold house 9 months ago. How can I check that the property is registered correctly in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Pembroke conveyancing specialists.
I am looking for a flat up to £245,000 and identified one round the corner in Pembroke I like with open areas and railway links in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Pembroke in this price bracket, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will likely be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer about this.
How easy is it to swap conveyancer as I have to retain a firm on the Aldermore conveyancing panel. I had appointed a local conveyancing solicitor in Pembroke five minutes from me but she is not approved by Aldermore
We will our best to assist in finding you a conveyancing solicitor in Pembroke on the Aldermore panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Pembroke. Using the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Pembroke.