My husband and I are buying a 3 bedroom flat in Astwood Bank with a mortgage. We have a Astwood Bank lawyer, but the bank says he's not on their "panel". It seems we have little option but to use one of the mortgage company panel conveyancing practices or retain our Astwood Bank property lawyer as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Astwood Bank conveyancing solicitor to apply to be on the conveyancing panel.
I purchased a freehold property in Astwood Bank but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Astwood Bank and has limited impact for conveyancing in Astwood Bank 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
We are expecting a mortgage offer soon. The bank mentioned the loan came with free conveyancing. Does this mean I have to appoint their panel lawyer as I would prefer to instruct a Astwood Bank based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers where you take up the "fee-free" offer. Speak to the bank and ask if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards your preferred conveyancing solicitor in Astwood Bank.
Do commercial conveyancing searches reveal proposed roadworks that may affect a commercial estate in Astwood Bank?
Its becoming the norm that commercial conveyancing solicitors in Astwood Bank will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Astwood Bank. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Astwood Bank.
For every commercial conveyancing transaction in Astwood Bank it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Astwood Bank commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Astwood Bank.
Just had an offer accepted on a new build flat in Astwood Bank. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Astwood Bank
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There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
My step-father has suggested that I instruct his lawyers for conveyancing in Astwood Bank. Should I use them?
No doubt it’s preferable to find a conveyancing practitioner is to have guidance from friends or family who have used the solicitor you're considering.