I am getting a mortgage offer from Santander. I hope to instruct a Licensed Conveyancer in March. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
How does conveyancing in March differ for new build properties?
Most buyers of new build residence in March contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is built. This is because builders in March tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in March or who has acted in the same development.
I opted to have a survey completed on a property in March before retaining lawyers. I have been told that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies may not give a loan on this type of house.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in March. Conveyancing may be slightly more expensive based on your lender's requirements.
What tools are available to identify a March solicitor on the Lloyds TSB Bank conveyancing panel? I am a keen cyclist and am prepared to travel upto 25kilometers to meet the conveyancer.
Feel free to make use of the tool on this website. Please pick a mortgage company and your location and you will see a number of March conveyancing lawyers based on proximity. We have listed some March conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Lloyds TSB Bank member panel
Last October I purchased a leasehold property in March. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee 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 be sure 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).
March Leasehold Conveyancing - A selection of Questions you should consider Prior to buying
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Does the lease have onerous restrictions? How long is the Lease? The prefered form of lease arrangement is if the freehold title is in the ownership of the leaseholders. In this arrangement the tenants benefit from control and although a managing agent is usually employed where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
When it comes to my conveyancing in March 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 March conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.