We are hoping to purchase a 1 bedroom flat in Eye with a mortgage. We have a Eye conveyancer, but the mortgage company says he's not on their "panel". It appears that we have little choice but to select one of the mortgage company panel solicitors or continue with our Eye lawyer as well as pay for one of their panel firms to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Eye conveyancing solicitor to apply to be on the conveyancing panel.
I own a freehold property in Eye but still invoiced for rent, why is this and what is this?
It is rare for properties in Eye and has limited impact for conveyancing in Eye 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 generation of fresh 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 lender mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel conveyancer as I would prefer to use a Eye based conveyancing firm?
You should check but the chances are that appoint one of their panel solicitors where you accept the "fee-free" incentive. Contact the mortgage company to determine if they allow a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Eye.
I have been told that property searches are the primary cause of hinderance in Eye conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Eye.
What tools are available to locate a Eye solicitor on the Aldermore conveyancing panel? I have a car and am willing to travel upto 10miles to meet the lawyer.
You can use the search on this website. Please choose the bank and your location and you will see a number of Eye conveyancing lawyers locally. We have listed some Eye conveyancing firms at the bottom of this page and you can contact them to see whether they are on the Aldermore approved list
I’m about to sell my 2 bed flat in Eye. Conveyancing lawyers have not yet been instructed, however I have just had a quarterly maintenance charge invoice – Do I pay up?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as you normally would as all rents and service charges will be apportioned on completion, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Eye Leasehold Conveyancing - Sample of Questions you should ask before buying
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Its a good idea to discover as much as possible concerning the managing agents as they will either make living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents both financially and when it comes to day to day matters such as the tidiness of the common parts. Enquire of prospective neighbours whether they are happy with their service. On a final note, find out the dates that you are obliged pay the service charge to the relevant party and precisely what it includes. It would be wise to enquire if the the lease contains any adverse restrictions in the lease. For example it is fairly common in Eye leases that pets are not permitted in in a block in Eye. If you like the apartmentin Eye however your dog is not allowed to make the move with you then you have a very difficult choice. Does the lease include onerous restrictions?