My wife and I are buying a 3 bedroom flat in Godmanchester with a mortgage. We like our Godmanchester lawyer, however the bank advise she’s not on their "panel". It seems we have no option but to select one of the bank panel conveyancing practices or retain our Godmanchester conveyancer as well as pay for one of their panel firms to represent them. This feels very unfair; are we not able to require that the mortgage company use our Godmanchester property lawyer ?
No, not really. 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 Godmanchester conveyancing solicitor to apply to be on the conveyancing panel.
Our nephew is in the process of securing a newly built flat in Godmanchester with a home loan from Virgin Money. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
At what point does exchange of contracts take place for purchase conveyancing in Godmanchester and am I required to be at the conveyancers branch?
If you are near to our conveyancing solicitors in Godmanchester you are welcome to come in to sign contracts. However, the law practices we work with offer countrywide coverage for conveyancing and give just as diligent and professional a job for you when dealing with you by post or email. The signing of the contract is not the critical part. A signed contract is just a prerequisite for the solicitor to address the formalities at the appropriate time, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where an extended "chain" is in play, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Godmanchester)to be in the office available at the end of the phone to exchange contracts.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Godmanchester?
Two types of professional can perform conveyancing in Godmanchester namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the disposal or acquisition of property. They are both required to carry out Godmanchester conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally carried out and that all requirements and steps will be accurately adhered to.
When it comes to lenders such as RBS, do Godmanchester conveyancing practitioners incur a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can I be sure that the Godmanchester conveyancing solicitor on the Clydesdale panel is any good?
When it comes to conveyancing in Godmanchester seeking 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 which is cheap as chips. We would always recommend that you speak with the solicitor conducting your transaction.
Last November I purchased a leasehold house in Godmanchester. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Godmanchester - Sample of Queries Prior to buying
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How many of the leaseholders are in arrears for their service charge payments? What is the service charge and ground rent on the apartment? You should be aware if it is fewer than eighty years it will have adverse implications on the marketability of the flat. It is worth checking with your lender that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will probably have to extend the lease at some point and you need to have some idea of what this would cost. For most Godmanchesterlease extensions you will need to own the property for a couple of years before you are legally able to carry out a lease extension.
How does one remove a deceased person's name from the title register for a property in Godmanchester?
If a Godmanchester property is co-owned and one of the proprietors passes away, the name will not automatically be removed from the Land Registry title. You are not required to remove their name as when it comes to a disposal you would just be asked to evidence why the co owner is missing from the contract, normally this is in the form of a grant of probate.
With a view to making things smoother for the sale of the property you may apply to have the deceased person erased from the title register by submitting an application to HMLR with proof of the death. There is no charge from the Registry for this service.