We are buying a 1 bedroom apartment in Hailsham with a mortgage. We have a Hailsham conveyancer, but the lender says he's not on their "panel". It appears that we have no option but to use one of the mortgage company panel solicitors or continue with our Hailsham lawyer as well as pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
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. Another option that might be available is for your Hailsham conveyancing lawyer to apply to be on the conveyancing panel.
AssumingI was to buy a freehold housein Hailsham mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to to save on my conveyancing in Hailsham?
Any savings you would make would be isolated to the Hailsham conveyancing searches. The conveyancer is obliged to do the vast majority of work - money laundering, communicating with your vendors solicitor, SDLT submission, register the ownership etc. You might save a bit for them not having to register a charge but it won't be meaningful.
I own a freehold residence in Hailsham but still pay rent, why is this and what is this?
It is rare for properties in Hailsham and has limited impact for conveyancing in Hailsham 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.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My house in Hailsham is up for sale and I have accepted an offer. Does the lawyer have to be on the Barclays conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Barclays conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
My wife and I are buying a property in Hailsham. It might be a silly question but how we can trust a conveyancer? On completion day we have to put funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I had a mortgage agreed in principle with RBS. Hailsham conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from RBS?
Some lenders take longer than others. Have RBS completed the survey? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am selling my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Barclays are being a right pain. The Hailsham solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been told that property searches are the number one cause of delay in Hailsham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Hailsham.