I can't travel far from Roath Park. What is the rationale as to why all Roath Park property lawyers are not on all mortgage company panels?

Before the recession most mortgage companies had an attitude to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into property fraud which concluded: know the property lawyers on your panel. Accordingly, lenders have subsequently looked to extract more information from law firms regarding their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Thousands of law practices have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum volume of transactions the lenders set.

All was ready to complete my purchase in Roath Park next Monday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as he says that he has to check this in his capacity as lawyer for the mortgage company. What risks does the bank expect the insurance to cover?

Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These requirements are not limited to conveyancing in Roath Park.

We are purchasing a property in Roath Park. It might be a silly question but how we can trust a lawyer? At some point we have to put funds into their account. What protection do we have from them run away with our money?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

Can you point me to a directory of Virgin Money panel conveyancers in Roath Park on the Council of Mortgage Lender’s Website?

No. There is no such facility on the CML or Building Society Association sites. Very few lenders make their panel listings visible online. If you are in need of a Roath Park conveyancer on the Virgin Money please use our facility.

It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Roath Park building society branch on numerous occasions and was told it wasn't an issue and they will lend. My Roath Park conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?

The conveyancer has to follow the CML Handbook Part 2 requirements for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.

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

Most buyers of new build or newly converted property in Roath Park approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Roath Park typically 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 conveyancers 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 accustomed to new build conveyancing in Roath Park or who has acted in the same development.

What type of premises does your Roath Park conveyancing quotes relate to?

The quotes issued are only appropriate to standard residential homes in England & Wales. Where you have any different requirements for example industrial or agricultural land or commercial conveyancing in Roath Park please contact us to address this further .