I am one month into the sale of my house in Bitterne and the EA has just called to say that the buyers are changing their law firm. The reason given is that the mortgage company will only engage with property lawyers on their approved list. Why would a major mortgage company only deal with certain law firms rather the firm that they want to appoint to handle their conveyancing in Bitterne ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
My husband and I intend to remortgage our maisonette in Bitterne with Coventry BS. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is repossessed. I have a couple of questions (1) Is this form unique to the Coventry BS conveyancing panel as he never had to sign this form when we remortgaged 3 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Coventry BS conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Coventry BS. This is solely used to protect Coventry BS if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Coventry BS had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I purchased a freehold house in Bitterne but still invoiced for rent, why is this and what is this?
It is rare for properties in Bitterne and has limited impact for conveyancing in Bitterne 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
Have just purchased a probate house at auction in Bitterne. Conveyancing is needed. What happens now?
Given that you have now to in every practical sense signed on the dotted line you must hire the services of a conveyancing solicitor soon as you are faced with a tight a drop dead date to complete the conveyancing. An auction property should have a bespoke legal set of papers. This will include evidence of title and search results. If you have purchased leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You should give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
We are planning to move house in June. Does my conveyancing solicitor call the removal company on the completion day. As an aside, can you put forward a removal company in Bitterne. Conveyancing solicitor was found prior to coming across this page.
On the day of completion you will need to pick up the keys from the selling agent but this can only be done after the sellers conveyancers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be handed over. After that you should tell the removal men that you are ready to move in. We do not suggest a particular removal company but can assist you in locating a conveyancing in Bitterne or a firm that specialises in conveyancing in Bitterne.
Our offer on a house in Bitterne has been accepted, but there is a chain. The vendors have offered on a flat, however it’s not yet tied up, and are looking at other apartments in the pipeline. I have instructed a bricks and mortar conveyancing solicitor in Bitterne. What do I do now? At what stage should I apply for the mortgage with Bank of Ireland?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (home loan application is in the region of £1k, then survey, Bitterne conveyancing search costs, etc). The first course of action is to check that your conveyancing practitioner is on the Bank of Ireland approved list. Regarding the subsequent stages this very much depends on the circumstances of your transaction, desire for the property and on the state of the market. In a buoyant market many buyers will apply for the mortgage with Bank of Ireland and pay for the valuation and only if it comes back ok would they request their conveyancing practitioner to move forward with the conveyancing in Bitterne.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Bitterne is the location of the property. Is there any guidance you can impart?
Flying freeholds in Bitterne are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bitterne you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bitterne may ascertain 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 residence.
I am thinking of appointing a conveyancing lawyer in Bitterne for my sale. Is it possible to see a solicitor's complaints history with the profession’s regulator?
Anyone can see presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.