I am expecting a offer of a home loan from Santander. My intention is to retain the legal services of a Licensed Conveyancer in Rainford. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
I am the registered owner of a freehold property in Rainford yet charged rent, why is this and what is this?
It’s unusual for properties in Rainford and has limited impact for conveyancing in Rainford 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
My solicitor has informed me that lack of building regulations insurance is required on my purchase. What is the level of cover for Rainford conveyancing?
The right level of lack of building regulations indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and Bank of Scotland. Conveyancing solicitors as opposed to borrowers take out such insurances.
How can we know in advance if a Rainford conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Rainford getting recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your conveyancing.
Virgin Money have agreed my home loan in principle, my offer on a house in Rainford has been accepted, now what?
Your property agent will need to be informed of your lawyer's details (make sure the conveyancing practitioners are on the lender’s approved list). Call up Virgin Money or the financial adviser and finish off any relevant documentation. Virgin Money will appoint a valuer who will get in touch with the selling agent or owners to schedule a time for the valuation to happen. Once carried out (assuming no problems) it takes approximately ten days to receive the mortgage offer. Virgin Money will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Rainford.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Rainford is the location of the property. Can you shed any light on this issue?
Flying freeholds in Rainford are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rainford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rainford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Do I need to be suspicious by brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a local Rainford conveyancing company?
As is the case with lots of professional services, often input from connections can be most helpful. Yet there are lots of people with a keen interest in a conveyancing transaction; estate agents, mortgage brokers and banks may suggest conveyancers to instruct. On occasion these conveyancers might be known to one of the organisations as being good in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the discretion to choose your preferred conveyancer. Don't forget that the majority of lenders specify a panel list of conveyancers you must use for the lender aspect of your conveyancing.
Your search tool is useful but there are many lawyers listed near Rainford being on the bank conveyancing panel. It would be a lot more helpful if you could recommend a specific firm on the conveyancing panel for our mortgage company?
We do not recommend specific Rainford firms as the right Rainford conveyancing firm for you depends on where your priorities lie. For example you may require a local firm with Rainford knowledge or you might be looking for the low cost conveyancing. We recommend that you speak to 3 or 4 lawyers listed before you make your choice..