Me and my fiance are purchasing a 1 bedroom apartment in Chertsey with a mortgage. We have a Chertsey solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Chertsey conveyancing practitioner as well as pay for one of their panel firms to act for them. We feel that this is unjust; are we not able to insist that the bank use our Chertsey solicitor ?
No, not really. Your mortgage offer 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 Chertsey conveyancing solicitor to apply to be on the conveyancing panel.
I own a freehold house in Chertsey but still charged rent, why is this and what is this?
It is rare for properties in Chertsey and has limited impact for conveyancing in Chertsey 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 post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
What is the difference between a licensed conveyancer and conveyancing solicitor in Chertsey
There are two types of lawyers who can conduct conveyancing in Chertsey namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that you need to complete the sale or purchase of property. Both are duty bound to handle Chertsey conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be properly conducted and that the necessary procedures should be appropriately adhered to.
I am buying a property in Chertsey. A rare aspect is that the roof has a solar panel. TSB have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with TSB your lawyer must comply with the conveyancing requirements set out in Part two of UK Finance Lenders’ Handbook for TSB. The CML Handbook contains minimum specifications for solar panel roof-space leases, and property lawyers are required to report to TSB where a lease does not satisfy these provisions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Chertsey.
I was told two weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Chertsey is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
I need some quick conveyancing in Chertsey as I have a deadline to exchange contracts inside 3 weeks. A mortgage is not required. Can I avoid the conveyancing searches to save money and time?
As you are not taking a mortgage you are at free not to do searches although no conveyancer would recommend that you don't. With lots of history conveyancing in Chertsey the following are instances of issues that can show up and therefore impact future mortgageability: Refused Planning Applications, Overdue Fees, Overdue Grants, Road Schemes,...
My husband and I are FTB’s - agreed a price, yet the selling agent told us that the seller will only proceed if we appoint the agent's preferred conveyancers as they want an ‘expedited deal’. My instinct tells me that we should use a family solicitor used to conveyancing in Chertsey
We suspect that the owner is not behind this request. If they desire ‘a quick sale', alienating a motivated buyer is is going to put the whole deal at risk. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to instruct your own,trusted Chertsey conveyancing firm - not the ones that will earn their estate agent a commission or meet his conveyancing targets demanded by corporate headquarters.
My partner and I are buying a first floor flat in Chertsey. At the time of instructing our property lawyer, they told us that they were on all mainstream bank panels. Our financial adviser called just now to advise that they don't seem to be on the Aldermore approved list. Should that be true, what should we do? Should we simply pick a different conveyancer that is on their approved list or do we cover the costs for dual representation, with Aldermore appointing their own approved lawyer.
Where you are acquiring a property needing a mortgage it is conventional for the buyer’s lawyers to also act for the mortgage company. In order to act for a bank or building society a solicitor has to be on that lender's conveyancing panel. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to satisfy. Some banks now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact Aldermore to find out if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on Aldermore's conveyancing panel as you are at liberty to use your preferred Chertsey lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.