My wife and I are planning to acquire a property in Runcorn and have instructed a Runcorn conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Mortgage Works have this afternoon contacted us to inform me that there is now an issue as our Runcorn lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Runcorn solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
The sellers of the property we are looking to purchase have appointed a conveyancing solicitor in Runcorn who has suggested a exclusivity agreement with a down payment two thousand pounds. Are such contracts generally advanced for Runcorn conveyancing transactions?
This type of preliminary agreement is not the norm in Runcorn, conveyancers are often inclined to veer clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the solicitor is left exposed. In addition, there is no guarantee that just because the owner has signed an exclusivity agreement they will sell to you. They may be motivated to break the agreement if they are offered sufficient offer to do so because an aggrieved claimant with the benefit of a lockoutcontract will still be legally obliged to show losses as a consequence of the breach and these may not equalise the financial upside that your vendor may secure by breaching the agreement, however morally shameful it undoubtedly is.
Is it the case that all Runcorn CQS (Conveyancing Quality Scheme) solicitors are on the Yorkshire BS conveyancing list of approved firms?
It is true that some lenders now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
I have a mortgage with Skipton for my property in Runcorn. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
You must advise Skipton before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. You need not do this via a Skipton conveyancing panel solicitor.
Having digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Runcorn solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Runcorn surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Me and my brother own a 4 bedroom Victorian house in Runcorn. Conveyancing practitioner represented me and Aldermore. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You should assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Runcorn and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with the conveyancing practitioner who conducted the work.
Just had an offer accepted on a new build flat in Runcorn. 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Runcorn
-
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Please supply a car parking plan.
I need to instruct a conveyancing practitioner in Runcorn for my home move. Can I review a solicitor's record with the profession’s regulator?
Members of the public can review documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Visit Check a solicitor's record. For information Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training requirements.