My wife and I are buying a 2 bedroom apartment in Caldicot with a mortgage. We like our Caldicot lawyer, but the lender advise she’s not on their "panel". It appears that we have no choice but to appoint one of the lender panel solicitors or keep our Caldicot conveyancer and pay for one of their panel lawyers to act for them. We regard this is unjust; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Caldicot conveyancing solicitor to apply to be on the conveyancing panel.
Do conveyancers ask for money up-front for conveyancing in Caldicot?
If you are buying a property in Caldicot your solicitor will request that you put them with monies to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any down payment is as part of the sale price then this should be required immediately ahead of contracts are exchanged. The final balance that is needed will be payable a few days ahead of the completion date.
I am purchasing a terraced house in Caldicot. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Caldicot you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Caldicot.
In what way can the Landlord & Tenant Act 1954 impact my commercial property in Caldicot and how can you help?
The 1954 Act provides security of tenure to business lessees, giving them the right to apply to court for a renewal tenancy and remain in occupation at the end of an expired lease. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Caldicot is one of our numerous locations in which our lawyers have offices
I have finally had an offer on an flat in Caldicot agreed to, the owner does however have a dependent purchase. The vendors have submitted an offer on on an apartment, but it’s not yet agreed to, and are looking at other flats in the pipeline. I have selected a local conveyancing lawyer in Caldicot. What should be my next step? When should I get the mortgage application with Co-operative going with Co-operative?
It is usual to have anxieties where there is a chain given your reluctance to incur costs prematurely (mortgage application is approx £1k, then valuation, Caldicot conveyancing search charges, etc). The first course of action is to ensure that your property lawyer is on the Co-operative approved list. Regarding the subsequent phase this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. During a buoyant market the majority of buyers would apply for a home loan with Co-operative and pay for the survey and only if it comes back ok would they request their property lawyer to press on with the conveyancing in Caldicot.