My husband and I are buying a 1 bedroom flat in Shefford with a mortgage. We have a Shefford solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Shefford lawyer and pay for one of their panel firms to act for them. We feel that this is unjust; can we not demand that the bank use our Shefford property lawyer ?
Unfortunately,no. 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 Shefford conveyancing lawyer to apply to be on the conveyancing panel.
I purchased a freehold property in Shefford but nevertheless charged rent, why is this and what is this?
It’s unusual for properties in Shefford and has limited impact for conveyancing in Shefford 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 date back many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
I am considering mortgaging my home in Shefford, does my lawyer need to be on the Kent Reliance Solicitor panel?
In theory, you could use a solicitor that is not on the Kent Reliance conveyancing panel, but Kent Reliance would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
Have just purchased a repossessed house at auction in Shefford. Conveyancing is required. What happens now?
Given that you have now for in every practical sense signed on the dotted line you must find a conveyancing practitioner soon as you are facing a pending a fixed date to complete the deal. All auction property will have an associated auction set of papers. This will include evidence of title and search results. In the case of leasehold premises the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You should pass this on to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that you have funds organised to complete the transaction on the set completion date.
We previously chose solicitors locally in Shefford on the Principality solicitor approved list. They have just invoiced me an additional charge for handling the Principality mortgage. Is this a supplemental conveyancing fee specified by Principality?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor can charge a fee for this. This charge is not dictated by Principality but by your Shefford solicitor. Some firms on the Principality panel will charge ’dealing with mortgage’ fee and others do not.
Kent Reliance have agreed my home loan in principle, my offer on a property in Shefford has been agreed to, what are the next steps?
Your property agent will need to know who your solicitors are (ensure that the lawyers are on the lender’s approved list). Call up Kent Reliance or your financial adviser and complete any outstanding forms. Kent Reliance will appoint a valuer who will get in touch with the selling agent or vendor to book an appointment. Once conducted (assuming no problems) it takes about a week to get a mortgage offer. Kent Reliance will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Shefford.
I'm purchasing a new build house in Shefford with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative suggested that I not reveal to my conveyancer about the deal as it may jeopardize my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am downsizing from my house. My past lawyers closed down. It would be helpful to have a recommendation of a conveyancing firm. Im based in Shefford if that affects matters.
Please use our search tool to help you choose a solicitor for your conveyancing in Shefford. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.