My partner and I are planning to buy a property in Saxmundham and have appointed a Saxmundham conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Accord Mortgages Ltd have this evening contacted us to inform me that there is now an issue as our Saxmundham solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent 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 lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Saxmundham solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are purchasing a brand new duplex in Saxmundham and my conveyancer is informing me that she is duty bound to the bank to disclose incentives from the builder. I am nearing the developer’s deadline to sign contracts and my preference is not to prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am the registered owner of a freehold residence in Saxmundham but nevertheless pay rent, why is this and what is this?
It is rare for properties in Saxmundham and has limited impact for conveyancing in Saxmundham 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 many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
We wanted to use a conveyancing solicitor in Saxmundham for our home move. Our broker has since notified us that our bank Barclays won't deal with them. Why is this not regarded as unduly restrictive?
A lender may insist on a panel conveyancer act for it. Borrowers are liable to meet the cost of this. Please make use of our search facility to select a solicitor to carry conveyancing in Saxmundham on the Barclays conveyancing panel.
My uncle pointed out to me me that in buying a property in Saxmundham there may be a number of restrictions prohibiting external alterations to a property. Is this right?
There are a number of properties in Saxmundham which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Saxmundham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I had a mortgage agreed in principle with Nottingham. Saxmundham conveyancing solicitors are appointed. How long does it take for Nottingham to forward the offer to the lawyer?
There is no definitive answer here. Have Nottingham done the survey? Have you informed Nottingham as to your lawyers' details and checked that your lawyers are on the Nottingham conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Completion of my purchase has taken place for my property in Saxmundham. Conveyancing was of an acceptable standard but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I used Arc property Solicitors several years ago for my conveyancing in Saxmundham. Now, I need my files but the law firm is no longer operating. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Saxmundham of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.