We are buying a 1 bedroom apartment in Royton with a mortgage. We have a Royton conveyancer, but the lender advise he's not on their "panel". It appears that we have no option but to select one of the bank panel solicitors or retain our Royton property lawyer as well as pay for one of their panel ones to represent them. We consider that this is inequitable; are we not able to require that the mortgage company use our Royton conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Royton conveyancing lawyer to apply to be on the conveyancing panel.
The Royton conveyancing firm that I appointed last week on my house acquisition in Royton have suddenly closed. They were on acting for me because I needed a firm on the Leeds Building Society conveyancing panel and my preferred Royton lawyer was not. I paid them £170 on account. What should be my next steps?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to assist.
My bid for a property was accepted at auction in Royton. Conveyancing is required. What is next?
Having exchanged you will need to appoint a conveyancing practitioner as a matter of urgency as you are facing a fast approaching a drop dead date to complete the transaction. All auction property will have a corresponding auction set of papers. This should include most,if not all of the paperwork that your solicitor requires. If you have purchased leasehold premises the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You need to pass this on to the lawyer working for you at the earliest opportunity. You also need to ensure that your finances are organised to complete on the on the contractual date .
Does a directory service exist listing Principality panel conveyancers in Royton on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings available on the web. Where you are seeking to appoint a Royton solicitor on the Principality please make the most of our tool.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Royton lawyer on the UBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
How does conveyancing in Royton differ for new build properties?
Most buyers of new build residence in Royton approach us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Royton tend to buy the real estate, 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 Royton or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Royton in advance of instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some lenders tend refuse to give a loan on this type of home.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Royton. Conveyancing will be smoother if you use a solicitor in Royton especially if they regularly deal with such properties in Royton.
My wife and I purchased a leasehold flat in Royton. Conveyancing and Lloyds TSB Bank mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Royton who previously acted has now retired. What should I do?
The first thing you should do is contact the Land Registry to be sure that the individual purporting to own the freehold is in fact the new freeholder. You do not need to incur the fees of a Royton conveyancing solicitor to do this as it can be done on-line for £3. You should note that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Royton Leasehold Conveyancing - Examples of Queries Prior to buying
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Who manages the building? Does the lease contain onerous restrictions?