Me and my fiance are buying a 2 bedroom flat in Chatteris with a mortgage. We like our Chatteris conveyancer, however the lender advise she’s not on their "panel". It appears that we have no choice but to use one of the lender panel solicitors or retain our Chatteris property lawyer as well as pay for one of their panel firms to represent them. We regard this is unjust; is there anything we can do?
No, not really. 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. A further alternative is for your Chatteris conveyancing solicitor to apply to be on the conveyancing panel.
We are only a couple days away from an exchange on a property in Chatteris and my parents have transferred the ten percent deposit to my conveyancing practitioner. I am now advised that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my lender. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The property lawyer is legally required to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I purchased a freehold house in Chatteris but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Chatteris and has limited impact for conveyancing in Chatteris 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 many centuries, but the Rent Charge Act 1977 barred the establishment 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 post 2037 is to be dispensed with completely.
How can we know in advance if a Chatteris conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Chatteris getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor handling your transaction.
My wife and I are at the point of viewing houses in Chatteris and I am now considering a potential offer. Is it best to have my conveyancer on ‘stand by’? I intend to finance via a mortgage with HSBC.
It would be sensible to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are getting a mortgage with HSBC, ask your prospective lawyers if they are on the HSBC conveyancing panel otherwise they can't do the mortgage legal work.
The mortgage over my property is with Kent Reliance for my property in Chatteris. Conveyancing has been completed 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention before renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel solicitor.
I moved into my flat on 3 June and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Chatteris said it would be dealt with inside ten days. Are properties in Chatteris particularly slow to register?
As far as conveyancing in Chatteris registration is no faster or slower than the rest of the country. As opposed to being determined by geographic area, timeframes can vary subject to the party submitting the application, whether there are errors and whether the Land registry have to notify any 3rd persons or bodies. Currently roughly 80% of such applications are fully dealt with within two weeks but some can be subject to protracted hold-ups. Registration occurs once the purchaser has moved in to the premises thus an expedited registration is not always top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers can contact the land registry and explain the circumstances.
Due to the advice of my in-laws I had a survey completed on a house in Chatteris ahead of appointing conveyancers. I have been informed that there is a flying freehold overhang to the property. The surveyor has said that some banks will not give a mortgage on a flying freehold premises.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Chatteris. Conveyancing may be slightly more expensive based on your lender's requirements.