I am expecting a mortgage with Santander. I intend to enlist the help of a Licensed Conveyancer in Sharnbrook. Does the Santander Conveyancing panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My Conveyancer in Sharnbrook is not listed on the The Royal Bank of Scotland Approved Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the The Royal Bank of Scotland panel of approved conveyancing solicitors?
Your options are as follows:
- Complete the purchase with your existing Sharnbrook solicitors but The Royal Bank of Scotland will need to instruct a conveyancer on their panel. This will result in additional total legal fees as well as cause frustration.
- Choose an alternative lawyer to act in the conveyancing, remembering to check they are on the The Royal Bank of Scotland panel
How does conveyancing in Sharnbrook differ for newly converted properties?
Most buyers of new build premises in Sharnbrook contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because new home sellers in Sharnbrook usually acquire the land, 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 conveyancers 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 accustomed to new build conveyancing in Sharnbrook or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in Sharnbrook in advance of retaining conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some banks will not give a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via 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 Sharnbrook. Conveyancing may be slightly more expensive based on your lender's requirements.
My wife and I purchased a leasehold house in Sharnbrook. Conveyancing and Bank of Scotland mortgage organised. A letter has just been received from someone claiming to own the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1998. The conveyancing solicitor in Sharnbrook who previously acted has long since retired. Do I pay?
The first thing you should do is contact the Land Registry to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Sharnbrook conveyancing practitioner to do this as you can do this on the Land Registry website for a few pound. Rest assured that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Sharnbrook - A selection of Questions you should consider before buying
-
This question is useful as a) areas can result in problems in the block as the common areas may begin to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the running of the building you will need to know about it Who are the managing agents? If a Sharnbrook lease has less than 80 years it will have adverse implications on the salability of the property. Check with your mortgage company that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will most likely have to extend the lease at some point and it is worth finding out how much this will be. Remember, in most cases you will need to own the residence for two years before you are legally able to carry out a lease extension.
Our lawyer in Sharnbrook has discovered a a legal deficiency with the lease for the flat we are purchasing in Sharnbrook. The other side have offered title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer says that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.