I am getting a mortgage with Halifax. I would like to use a Licensed Conveyancer in Knotty Ash. Does the Halifax Conveyancing panel include conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am in a contract race with another buyer for a property in Knotty Ash. What can I do to speed up matters?
In a situation where the seller is applying pressure to exchange we would recommend that your solicitor is familiar with the location as they will benefit local connections and intelligence. It is even conceivable that they would have conducted previousproperties in the same road. You would be best advised to use a Knotty Ash conveyancing solicitor. Second, check that the lawyer is on the on the approved list for your mortgage company. It is claimed that nearly one in five of Knotty Ash conveyancing transactions are frustrated or jeopardised after finding out that a buyer’s conveyancer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the transaction being held up by as much as three weeks. It is claimed that this issue affects in the region of one hundred thousand home sales annually. Almost all Knotty Ash conveyancing firms can not act for certain mortgage companies so do check as early as possible.
I am the registered owner of a freehold property in Knotty Ash but nevertheless pay rent, why is this and what is this?
It is rare for properties in Knotty Ash and has limited impact for conveyancing in Knotty Ash 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 generation of fresh 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 is to be extinguished.
Me and my brother have a semi-detached Victorian house in Knotty Ash. Conveyancing solicitor represented me and Platform Home Loans Ltd. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Knotty Ash and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the situation with the conveyancing practitioner who completed the work.
Am I right to be wary about 3rd parties that I am dealing with are recommending a factory type conveyancing firm rather than a local Knotty Ash conveyancing firm?
As with many professional services, often referrals from relatives can be extremely useful or valuable. But there are many parties with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to select. On occasion these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You are at liberty to appoint your preferred conveyancer. You need to be aware that many lenders specify a panel list of solicitors you have to use for the lender aspect of your transaction.
When it comes to my conveyancing in Knotty Ash should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Knotty Ash conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.