I can't travel far from Barry. I would like to know the understand why all Barry lawyers aren't included on all mortgage company panels?

Pre- 2008 most banks had an attitude to risk which is different from today. The FSA in 2010 carried out a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Accordingly, banks have subsequently looked to extract more data from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum volume of transactions. Many law practices have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the lenders insisted on.

Is it necessary during the course of the conveyancing process to visit the offices of the solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Barry so that I can pop in to their offices if necessary.

Most conveyancing panel lawyers for mortgage companies undertake all of the work via Royal Mail, e-mail or over the phone. This enables them to undertake the legal work for your home move regardless of where you live in the country. That being said you can check if you can still book an appointment to visit conveyancing lawyer if needed.

It is unclear whether my bank requires a lease extension. I have called into my local Barry building society branch on various occasions and was told they are content with the situation and they would lend. My Barry conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?

Your lawyer has to follow the CML Handbook Part 2 requirements for your bank. 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.

I was told four weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Barry is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.

TSB have agreed my home loan in principle, my offer on a house in Barry has been agreed to, what are the next steps?

Your property agent will want to be advised as to your solicitor's details (be sure the solicitors are on the lender’s panel). Contact TSB or the financial adviser and finish off any outstanding paperwork. TSB will instruct a valuer who will get in touch with the selling agent or vendor to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes about ten days for the mortgage offer to be issued. TSB will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Barry.

I am purchasing a house and the lawyer has referenced Chancel Repair to which the property could be obligated to contribute to because it falls into the area of such a church. She has mentioned insurance. Is this strictly warranted for conveyancing in Barry

Unless a previous acquisition of the house completed after 12 October 2013 you can take it that conveyancing practitioners handling conveyancing in Barry to remain encouraging a chancel search and or chancel repair liability insurance.

I am employed by a long established estate agent office in Barry where we see a number of flat sales put at risk as a result of short leases. I have been given inconsistent advice from local Barry conveyancing firms. Could you shed some light as to whether the vendor of a flat can commence the lease extension process for the buyer?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the sale.

Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Barry Leasehold Conveyancing - Examples of Queries before Purchasing

Where a Barry lease has no more than eighty years it will have adverse implications on the salability of the property. Check with your bank that they are happy with remaining years on the lease. A short lease means that you will probably require a lease extension at some point and it is worth finding out what this will be. For most Barrylease extensions you would be required to have been the owner of the residence for a couple of years before you are entitled to extend the lease. How many years are left on the lease? Are any of leasehold owners in arrears of their service charge payments?