Am I correct in assuming that the fact that my conveyancer in Littleover is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Littleover conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
In the event thatI was to acquire a freehold propertyin Littleover mortgage fee and dispense with a survey and no conveyancing searches how much could I expect to have to pay for conveyancing in Littleover?
The sole reduction in fees you would achieve is the costs for searches. The conveyancing practitioner still be obliged to do everything else - money laundering, communicating with the sellers solicitor, SDLT return, register the title etc. You might save a bit for them not needing to register a charge but it will not be significant.
I purchased a freehold property in Littleover but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Littleover and has limited impact for conveyancing in Littleover 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 post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
My home in Littleover is up for sale and I have a purchaser. Does my solicitor need to be required to be on the Clydesdale conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale 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.
The estate agent has sent us the confirmation of our purchase of a new build flat in Littleover. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Littleover
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please confirm the Lease plans are surveyor prepared. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision.
When it comes to my conveyancing in Littleover 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 Littleover conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the solicitor's time in submitting the funds this way.