We wanted to use a conveyancing solicitor in Porthmadog for our home move. Our financial adviser has since notified us that our mortgage company The Mortgage Works won't deal with them. Surely this is unduly restrictive?

Mortgage Companies on the whole restrict either the type or the volume of conveyancing firms on their member panel. A common example of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the type of firm, a few banks have decided to limit the number of solicitor practices they permit to represent them. You should note that The Mortgage Works have no responsibility for the quality of advice provided by any member of The Mortgage Works Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels a few years ago even though there are mixed views about the level of solicitor engagement in some of that fraud. Data from the Land Registry indicate that thousands of law firms, including some in or near Porthmadog only carry out a couple conveyances a year.

I am helping my niece sell her flat in Porthmadog. Does the conveyancing solicitor arrange an EPC or it is for the owner to coordinate?

After the abolition of Home Packs, EPC’s was maintained a compulsory part of selling a house. An EPC must be to hand prior to the property being advertised. It is not a task that lawyers normally organise. Where you are using a Porthmadog conveyancing lawyer they might help arrange energy performance certificates due to their contacts with long established Porthmadog providers

Can you help - my lawyer says that restrictive coveneant insurance is necessary on my purchase. What is the level of cover for Porthmadog conveyancing?

The right level of restrictive coveneant indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and The Mortgage Works. Conveyancing lawyers as opposed to borrowers take out such insurances.

I was told two weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in Porthmadog is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their PI Insurance.

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

Are there restrictive covenants that are commonly picked up as part of conveyancing in Porthmadog?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Porthmadog. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’

I am looking for a leasehold apartment up to £245,000 and identified one close by in Porthmadog I like with a park and station in the vicinity, however it only has 51 years unexpired on the lease. There is not much else in Porthmadog suitable, so just wondered if I would be making a mistake buying a short lease?

Should you need a home loan the remaining unexpired lease term will likely be problematic. Reduce the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.

I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the mortgage company approved panel. How can I be sure given that they are not listed on your directory?

Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.