I plan on acquiring residence in Shortlands. My Conveyancer is not listed on the lender approved panel. Is it possible for me to use my Shortlands conveyancing solicitor notwithstanding that they are excluded from the bank panel of approved conveyancing solicitors?
You have numerous choices available to you here
- Complete the deal with your chosen Shortlands lawyer but your mortgage company will undoubtedly appoint a conveyancing practitioner on their approved panel. The net result is additional charges together with potential delay.
- Get a new property lawyer to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
- Appeal to your conveyancer to attempt to join the mortgage company panel
I am the registered owner of a freehold property in Shortlands but nevertheless charged rent, why is this and what is this?
It is rare for properties in Shortlands and has limited impact for conveyancing in Shortlands 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I am being told by my conveyancer that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Shortlands?
The appropriate level of missing deeds indemnity insurance depends on who your lender is. It would differ for example between Santander and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to members of the public take out such policies.
We have agreed to purchase a house in Shortlands. A rare aspect is that the roof has a solar panel. Kent Reliance have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Kent Reliance your lawyer must check the conveyancing requirements contained in Section 2 of UK Finance Lenders’ Handbook for Kent Reliance. The Council of Mortgage Lenders’ Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Kent Reliance where a lease fails to comply with these requirements. The conditions relate to the installation of panels on properties nationwide and is not limited to Shortlands.
I have a mortgage with Co-operative for my property in Shortlands. Conveyancing has been completed 12 months ago. If I am intending 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 Co-operative?
You must advise Co-operative in advance of letting out your property as this is likely to be a breach of Co-operative’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 Co-operative directly. It should not be necessary to do this via a Co-operative conveyancing panel firm.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Shortlands is the location of the property. Is there any guidance you can give?
Flying freeholds in Shortlands are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Shortlands you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shortlands may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to instruct a conveyancing solicitor in Shortlands for my house move. Is it possible to review a firm’s record with the legal regulator?
One may find documented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator could recorded call for training requirements.
Despite our best endeavours, we have been unsuccessful in trying to purchase the freehold in Shortlands. Can the Leasehold Valuation Tribunal adjudicate on premiums?
in cases where there is a absentee landlord or if there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to make a decision on the amount due.
An example of a Freehold Enfranchisement matter before the tribunal for a Shortlands premises is Ravensbourne Lodge 4 Highland Road in February 2013. the Tribunal held that the amount payable for the freehold was £22,268
When it comes to leasehold conveyancing in Shortlands what are the most common lease defects?
There is nothing unique about leasehold conveyancing in Shortlands. Most leases are individual and legal mistakes in the legal wording can sometimes mean that certain sections are not included. The following missing provisions could result in a defective lease:
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Maintenance charge proportions which don’t add up to the correct percentage Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease can cause issues when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Norwich and Peterborough Building Society, and Godiva Mortgages Ltd all have express requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, obliging the purchaser to pull out.