My fiance and I are planning to acquire a flat in Penmaenmawr and have appointed a Penmaenmawr conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Birmingham Midshires have this morning contacted us to advise us that there is now an issue as our Penmaenmawr lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Penmaenmawr lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We have rather pushy vendors who has insisted on a preliminary agreement with a deposit 10k. Are such agreements appropriate for Penmaenmawr conveyancing transactions?
This kind of arrangement is not the norm in Penmaenmawr, conveyancers will often sway clients away from them as they divert attention from the main conveyancing focus and if you end up losing your deposit then the solicitor at best left with an upset client and at worst a litigious one. Secondly, there is no guarantee that just because the seller has signed a lock out agreement they will sell to you. They may breach the contract if they receive a big enough offer to do so because a wronged party with the benefit of a lockoutcontract will still be duty bound to show losses as a consequence of the breach and this may not compare to the extra amount that the owner may gain by reneging on the agreement, no matter how morally shameful it undoubtedly is.
Our mortgage company has recommended solicitors on their panel based in Penmaenmawr but I would rather choose a conveyancing lawyer in Penmaenmawr round the corner to me. Are you able to assist?
It is by no means the case that all Penmaenmawr conveyancing firms are on all banks conveyancing panel. Do make the most of our find an approved solicitor tool to locate a Penmaenmawr conveyancing conveyancer on the on the lender panel.
My husband and I are FTB’s - had an offer accepted, yet the agent advised that the owners will only issue a contract if we use their recommended conveyancers as they want a ‘quick sale’. My instinct tells me that we should use a family solicitor accustomed to conveyancing in Penmaenmawr
We suspect that the seller is unaware of this request. Should the seller desire ‘a quick sale', turning down a genuine purchaser is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)however you will continue to use your preferred Penmaenmawr conveyancing solicitors - not the ones that will provide their estate agent a commission or achieve conveyancing targets set by senior management.
I'm buying a property in Penmaenmawr. I have found my conveyancer's company on the CLC list, but I can't see my conveyancer's name as listed on the regulator's website. Should I be concerned?
Not all staff in the practice must be listed by the regulator. Provided there is someone qualified to 'oversee' the work, the actual day-to-day activity can be conducted by unlicensed staff.