We are hoping to buy a 1 bedroom apartment in Llay with a mortgage. We like our Llay lawyer, but the mortgage company says she’s not on their "panel". It appears that we have no choice but to select one of the lender panel conveyancing practices or keep our Llay property lawyer and pay for one of their panel firms to represent them. We regard this is unjust; can we not insist that the lender use our Llay conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Llay conveyancing lawyer to apply to be on the conveyancing panel.
At what point does exchange of contracts happen for sale conveyancing in Llay and am I required to be at the solicitors office?
If you are near to one of the conveyancing solicitors in Llay you are welcome to come in to sign the paperwork. That being said, the law practices we recommend supply countrywide coverage for conveyancing and provide as equally comprehensive and professional a job for you when communicating with you electronically. The executing of the contract is not the point of no return. A signed contract is just a prerequisite for the conveyancer to exchange contracts at the suitable time, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Llay)to be in the office at the appropriate time.
What does a local search inform me concerning the house my wife and I buying in Llay?
Llay conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Searchflow The local search plays a central part in many a Llay conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
Are there restrictive covenants that are commonly identified during conveyancing in Llay?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Llay. 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…’
How does conveyancing in Llay differ for new build properties?
Most buyers of new build premises in Llay come to us having been asked by the seller to sign contracts and commit to the purchase even before the house is completed. This is because developers in Llay tend to purchase the site, 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 conveyancing solicitors 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 Llay or who has acted in the same development.