Me and my partner are purchasing residence in Anston. My Solicitor is not listed on the mortgage company solicitor list. Am I still permitted to use my Anston conveyancing solicitor even though they are excluded from the bank list of approved lawyers?
You have a couple of alternatives open to you here
- Carry on with your preferred Anston conveyancer but your mortgage company will need to appoint a property lawyer on their approved list. The net result is additional cost together with likely delay.
- Get a fresh solicitor to act in the purchase, ensuring that they are on the bank conveyancing panel.
- Appeal to your solicitor to seek to join the lender panel
Our god-son is purchasing a house that has just been built in Anston with a mortgage from Nationwide. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I own a freehold premises in Anston but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Anston and has limited impact for conveyancing in Anston 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 creation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I'm buying a new build house in Anston with a loan from Nationwide Building Society. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about this deal as it may jeopardize my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Anston is where the house is located. What do you suggest?
Flying freeholds in Anston are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Anston you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Anston may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Builders have put forward a conveyancer and I've sought a quote from them. It's nearly £300 cheaper than my local Anston conveyancing practitioner. Should I use them?
Developers often have lists of lawyers who expedite matters and who know the developer’s contract and lawyer. Plenty of developers offer an incentive to use a preferred conveyancing practitioner for this reason, any increased fees can be avoided and a builder won't recommend a conveyancing factory and run the risk of having the conveyancing stall when they need an exchange within a tight deadline. The argument for not opting for the recommended conveyancing practitioner is that they may be unwilling to fight for your interests at the risk of upsetting the sellers. If you worry that this may be the case you should stick with your high street Anston lawyer.