We are intending to buy a 1 bedroom flat in Hailsham with a mortgage. We would like to retain our Hailsham solicitor, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel solicitors or continue with our Hailsham lawyer and pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. 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. Another option that might be available is for your Hailsham conveyancing solicitor to apply to be on the conveyancing panel.
In the event thatI were to acquire a straightforward propertyin Hailsham mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Hailsham?
Any savings you would achieve would be isolated to the Hailsham conveyancing searches. Your conveyancing practitioner is obliged to do the vast majority of work - money laundering, correspond with your sellers lawyer, stamp duty return, register the ownership etc. A slight saving might be made by not having to register a charge but it won't be a lot.
I am the registered owner of a freehold premises in Hailsham but still charged rent, why is this and what is this?
It’s unusual 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 date back hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am selling my house in Hailsham. Does my conveyancer have to be required to be on the Nationwide conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Nationwide 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 panel criteria fairly frequently currently.
Me and my partner are buying a flat in Hailsham. I might seem paranoid but how we can trust a conveyancer? On the day of competition we will need to put funds into their account. What protection do we have from them run away with our monies?
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.
Last month we had a mortgage agreed in principle with Principality. Hailsham conveyancing lawyers have been appointed. What is the average time that one could expect to receive a mortgage offer from Principality?
There is no definitive answer here. Have Principality conducted the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am selling my apartment. I had a double glazing fitted in November 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Yorkshire BS are being a right pain. The Hailsham solicitor who is on the Yorkshire BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Yorkshire BS are requiring a building regulation certificate. Why do Yorkshire BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Yorkshire BS have referred the matter to their valuer. The reason why Yorkshire BS 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 primary reason for delay in Hailsham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the most frequent causes of hindrances in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Hailsham.