I am nearing exchange of contracts for my house in Roath Park and the estate agent has just e-mailed to warn that the buyers are changing their law firm. The reason given is that the mortgage company will only engage with property lawyers on their approved list. Why would a big named lender only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Roath Park ?

Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.

Banks blame a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say 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. Plenty of firms 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. Your purchasers are not going to have any impact on this.

Are the Roath Park conveyancing solicitors identified as being on the RBS conveyancing panel, together with their details provided by RBS?

Roath Park conveyancing firms themselves provide us confirmation that they are on the RBS conveyancing panel as opposed to being supplied with a list from RBS directly.

How does conveyancing in Roath Park differ for new build properties?

Most buyers of new build premises in Roath Park come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is built. This is because house builders in Roath Park typically purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Roath Park or who has acted in the same development.

We're first time buyers - agreed a price, but the agent informed us that the vendor will only move forward if we appoint the agent's preferred solicitors as they are insisting on an ‘expedited deal’. We would rather use a family conveyancer accustomed to conveyancing in Roath Park

We suspect that the owner is not behind this request. Should the owner require ‘a quick sale', turning down a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you are going to appoint your preferred Roath Park conveyancing solicitors - not the ones that will provide the negotiator at the agency a commission or meet his conveyancing thresholds demanded by corporate headquarters.

I am employed by a busy estate agency in Roath Park where we have experienced a few flat sales derailed due to leases having less than 80 years remaining. I have been given inconsistent advice from local Roath Park conveyancing solicitors. Can you confirm whether the seller of a flat can start the lease extension formalities for the buyer?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.

An alternative approach is to agree the lease extension with the freeholder 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.

Leasehold Conveyancing in Roath Park - Sample of Queries Prior to Purchasing

How is the lease structured? How much is the ground rent and service charge? Who takes responsibility for maintaining and repairing the building?