I am obtaining a offer of a home loan from Nat West. I would like to use a Licensed Conveyancer in Ouston. Does the Nat West Conveyancing panel allow for Licensed Conveyancers?
The Nat West conveyancing panel is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I purchased a freehold premises in Ouston but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Ouston and has limited impact for conveyancing in Ouston 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 many centuries, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be extinguished.
What is the difference between a licensed conveyancer and conveyancing solicitor in Ouston
Two types of professional can carry out conveyancing in Ouston namely CLC regulated conveyancers or solicitors. Both professionals administer conveyancing services that you need to complete the sale or purchase of property. Both are obliged to handle Ouston conveyancing to the same standards and guidelines so you may be sure that your conveyancing will be professionally carried out and that all requirements and steps should be appropriately adhered to.
When it comes to mortgage companies such as RBS, do Ouston property lawyers incur an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Ouston building society branch on numerous occasions and was told it does not affect the mortgage offer and they would lend. My Ouston conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the lawyer is on the bank panel, she or he must follow the Council of Mortgage Lenders’ Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Various internet forums that I have frequented warn that are a common reason for obstruction in Ouston house deals. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances in the conveyancing process. Searches are not likely to feature in any delay in conveyancing in Ouston.
My wife and I purchased a semi-detached Victorian property in Ouston. Conveyancing solicitor acted for me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ouston and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with the conveyancing practitioner who conducted the purchase.
We have instructed a Ouston conveyancing solicitor for our house purchase (first time buyers) and have noticed in the terms and conditions that they are not covered by the Financial Conduct Authority. Need I be worried or is that usually the case with lawyer?
We can't see why they should be. Most solicitor don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who have specific stipulations in place on monies sitting on client account.