My partner and I are planning to buy a property in Aldborough Hatch and are in fact using a Aldborough Hatch conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. TSB have this afternoon contacted us to inform me that there is now an issue as our Aldborough Hatch solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also act for 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 Quality 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 lender’s conveyancing panel as you are at liberty to use your preferred Aldborough Hatch lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I purchased a freehold residence in Aldborough Hatch but still pay rent, why is this and what is this?
It’s unusual for properties in Aldborough Hatch and has limited impact for conveyancing in Aldborough Hatch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My conveyancer has informed me that lack of building regulations insurance is required on my purchase. What is the level of cover for Aldborough Hatch conveyancing?
The right level of lack of building regulations indemnity insurance should be dictated by who who your lender is. It would differ for example between Halifax and Coventry Building Society. Conveyancing solicitors as opposed to borrowers take out such insurances.
After much negotiation I have agreed a price on an apartment in Aldborough Hatch. My mortgage broker suggested a property lawyer. I paid an advanced payment of £175. A couple of days later, the conveyancing practitioner called me sheepishly admitting that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my house. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being difficult. The Aldborough Hatch solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I decided to have a survey carried out on a property in Aldborough Hatch in advance of appointing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some banks tend not grant a loan on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Aldborough Hatch. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the will of my aunt I am disposing of a property in Cardiff but live in Aldborough Hatch. My conveyancer (based 300 kilometers from mehas requested that I sign a stat dec before completion. Could you suggest a conveyancing practitioner in Aldborough Hatch to witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will be fine regardless of whether they are based in Aldborough Hatch
Is there a reason that Aldborough Hatch conveyancing fees differ for leasehold and freehold properties?
There is always increased work required in leasehold conveyancing. Aldborough Hatch has many leasehold properties. There is more hours involved in the purchase: for example, the lease and leasehold information (including current service charge, ground rent and buildings insurance details) obtained from the freeholder or managing agents. There are strict criteria that the lease must meet in order to be acceptable to a mortgage company. If it does not meet these requirements, the lease must be amended, which can involve additional expense for the seller.