Me and my partner are buying a 1 bedroom flat in South Oxhey with a mortgage. We like our South Oxhey lawyer, however the lender advise she’s not on their "panel". We have to appoint one of the lender panel firms or retain our South Oxhey conveyancing practitioner and pay for one of their panel ones to act for them. This feels very unfair; are we not able to require that the mortgage company use our South Oxhey conveyancing practitioner ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 South Oxhey conveyancing solicitor to apply to be on the conveyancing panel.
I am the registered owner of a freehold property in South Oxhey yet invoiced for rent, why is this and what is this?
It’s unusual for properties in South Oxhey and has limited impact for conveyancing in South Oxhey 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 creation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
Do the Building Society Association intend to launch a search tool with a view to list law firms on the Coventry BS conveyancing panel for example in South Oxhey?
Lexsure has not been advised of any plans on the part of the BSA to develop such a tool.
Please help - my lawyer says that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in South Oxhey?
The right level of missing deeds indemnity insurance depends on your lender. It would differ for example between Halifax and The Mortgage Works. Conveyancing practitioners as opposed to borrowers take out such insurances.
I am purchasing a property in South Oxhey. An unusual aspect is that the roof has a solar panel. RBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with RBS your lawyer must comply with the formal instructions set out in Part two of UK Finance Lenders’ Handbook for RBS. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to RBS where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties countrywide and is not restricted to South Oxhey.
We expect to receive a AIP from UBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any South Oxhey solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint South Oxhey solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I know that there are debates on Chancel Insurance on online forums. Do I need this when buying a residence in South Oxhey? or I am told that there is historic law that means some owners of property living in a parish church boundary may be liable to contribute towards repairs towards the chancel in proximity to the church. Is this relevant for conveyancing in South Oxhey?
Unless a previous purchase of the house completed after 12 October 2013 you can take it that solicitors handling conveyancing in South Oxhey to remain recommending a chancel search and or insurance against a claim.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. South Oxhey is the location of the property. Is there any advice you can impart?
Flying freeholds in South Oxhey are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Oxhey you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Oxhey may determine 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 premises.