Me and my partner are purchasing a 1 bedroom apartment in Fallowfield with a mortgage. We have a Fallowfield solicitor, however the mortgage company says she’s not on their "panel". It seems we have little option but to use one of the bank panel solicitors or retain our Fallowfield solicitor as well as pay for one of their panel ones to act for them. We regard this is inequitable; are we not able to insist that the mortgage company use our Fallowfield conveyancing practitioner ?
Unfortunately,no. The mortgage offered to you 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 Fallowfield conveyancing solicitor to apply to be on the conveyancing panel.
I purchased a freehold property in Fallowfield but still invoiced for rent, why is this and what is this?
It is rare for properties in Fallowfield and has limited impact for conveyancing in Fallowfield 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 fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
Forgive me if this question is silly but I am new to the house moving as FTB of a two bedroom flat in Fallowfield. Do I collect the keys to the house on completion from my lawyer? If so, I will find a local conveyancing solicitor in Fallowfield?
On the day of completion you will not be required to go to the conveyancers office in Fallowfield. Conveyancing lawyers for you will electronically transfer the purchase money to the seller's solicitors, and once they have received this, you will be invited to receive the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I have a mortgage with UBS for my property in Fallowfield. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
You must advise UBS prior to letting out your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let 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 UBS directly. It should not be necessary to do this via a UBS conveyancing panel solicitor.
My offer on a semi in Fallowfield has been agreed to, the owners do nevertheless have an associated purchase. The vendors have offered on a property, but it’s not yet agreed to, and have viewings of other apartments booked. I have chosen a nearby conveyancing solicitor in Fallowfield. What should be my next step? At what stage should I apply for the mortgage with Lloyds?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then valuation, Fallowfield conveyancing search costs, etc). First, you should ensure that your conveyancing practitioner is on the Lloyds approved list. As to the next stages this very much depends on the specifics of your case, motivation for the property and on the state of the market. In a buoyant market some purchasers will apply for a home loan with Lloyds and pay for the valuation and only if it was satisfactory would they pay their solicitor to press on with searches.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial site in Fallowfield?
Many commercial conveyancing solicitors in Fallowfield will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Fallowfield. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fallowfield.
For each commercial conveyancing transaction in Fallowfield it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Fallowfield commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Fallowfield.
I am buying a new build flat in Fallowfield. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Fallowfield
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I'm converting the mortgage on my primary home to a buy to let mortgage with Bank of Scotland and intend to use the remaining equity as a down payment on a second property. The location we are talking about is Fallowfield. Will your solicitors be able to act for the two banks and link together the conveyances?
Do use our comparison tool on this page to be sure that the lawyers are approved by both banks. Having checked that they are the solicitor will be able to tie up the two conveyancing matters but you should have a chat with you lawyer and communicate your expectations and requirements.