My husband and I are looking to acquire a flat in Chantry and have appointed a Chantry conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this afternoon contacted us to inform me that there is now an issue as our Chantry solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors to also act for the purchaser's lender. 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 Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Chantry solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I purchased a freehold house in Chantry but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Chantry and has limited impact for conveyancing in Chantry 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 generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am planning to acquire a property and require a conveyancing solicitor in Chantry who is on the The Mortgage Works approved. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Mortgage Works in certain locations such as Chantry. We dont recommend any particular firm.
Is it the case that all Chantry solicitor practices on the Clydesdale conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel and in that case the practice would be overseen by the CLC.
I have paid off my mortgage with Co-operative. I assume I don't need a Chantry lawyer on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
Nottingham have agreed my home loan in principle, my bid on a apartment in Chantry has been agreed to, now what?
Your estate agent will want to be informed of your property lawyer's details (ensure that the solicitors are on the bank’s approved list). Telephone Nottingham or your broker and finish off any outstanding forms. Nottingham will instruct a valuer who will get in touch with the estate agent or seller to book an appointment. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Nottingham will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Chantry.
Are there any apps to assist me to identify a Chantry law firm on the The Mortgage Works conveyancing panel? I drive a motor bike and am happy to travel upto 25miles to meet the solicitor.
You can use the facility on this page. Please choose the lender and your location and you will see a number of Chantry conveyancing lawyers based on proximity. We have listed some Chantry conveyancing firms towards the end of this page and you can contact them to verify whether they are on the The Mortgage Works approved list
I've found a house that seems to tick a lot of boxes, at a great figure which is making it more attractive. I have since found out that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Chantry. Conveyancing advisers have are soon to be instructed. Will they explain the issues?
The majority of houses in Chantry are freehold and not leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are buying in Chantry in which case you should be looking for a Chantry conveyancing practitioner and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example obtaining the freeholder’sconsent to conduct alterations. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your solicitor should appraise you on the various issues.
I acquired a 2 bed flat in Chantry, conveyancing having been completed half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Comparable properties in Chantry with a long lease are worth £222,000. The average or mid-range amount of ground rent is £50 yearly. The lease ends on 21st October 2096
With just 70 years unexpired the likely cost is going to be between £9,500 and £11,000 plus professional fees.
The figure above a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of comprehensive investigations. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first getting professional advice.