I am purchasing a flat in Standish. My lawyer has never been on on the lender solicitor list. Is it possible for me to use my Standish conveyancing solicitor even though they are not on the mortgage company panel?
You must instruct a solicitor to complete the legal work required when you need a mortgage to purchase your property. The conveyancing practitioner will carry out all the appropriate legal checks on the property, ensuring that you will be properly registered as the owner and ensure that all the necessary mortgage paperwork is in order. One can appoint a Standish lawyer of your choosing. Nevertheless, where the conveyancing practitioner selected is not a member of the bank solicitor panel additional fees will be incurred as separate legal representation will be need by the bank. Conveyancing panel applications may be submitted, so provided your conveyancer has not in the past sought membership they should do so.
I own a freehold residence in Standish yet pay rent, why is this and what is this?
It is rare for properties in Standish and has limited impact for conveyancing in Standish 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 new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Forgive me if this question is silly but I am new to the house moving as FTB of a ground floor flat in Standish. Do I collect the keys to the house on completion from my conveyancer? If so, I will find a local conveyancing solicitor in Standish?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the vendor’s conveyancers, and once they have received this, you should be invited to collect the keys from the Estate Agents and move into your new home. Usually this occurs between 1 and 3pm.
I'm in the process of looking at flats in Standish and I am about to put in an offer. Should I already have a property lawyer in place at this point? I am planning to take a mortgage with Barclays.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are obtaining a mortgage with Barclays, make sure you remember to check that your lawyer is on the Barclays conveyancing panel.
My sealed bid on a house in Standish has been agreed to, the vendors do however have a dependent purchase. The sellers have put an offer on somewhere, but it’s not yet tied up, and are looking at other flats in the pipeline. I have instructed a local conveyancing solicitor in Standish. What do I do now? When do I get the mortgage application with Kent Reliance going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Standish conveyancing search charges, etc). The first thing to do is check that your property lawyer is on the Kent Reliance approved list. Concerning the next stages this very much dictated by the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market many purchasers will apply for a home loan with Kent Reliance and pay for the valuation and only if it was satisfactory would they request their conveyancing practitioner to move forward with searches.
What does a local search reveal about the property we're purchasing in Standish?
Standish conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search plays a central part in most Standish conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject areas.
I have been on the look out for a ground for flat up to £305k and identified one close by in Standish I like with amenity areas and station in the vicinity, the downside is that it's only got 61 remaining years left on the lease. There is not much else in Standish in this price bracket, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the property for at least twenty four months you could request that they start the process of the extension and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
Should I be wary that 3rd parties that I am dealing with are suggesting an online conveyancing firm as opposed to a High Street Standish conveyancing company?
As with many service providers, often input from family and friends can be worth their weight in gold. Yet there are numerous people with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders may put forward lawyers to select. Sometimes these conveyancers might be known to one of the organisations as experts in their field, but occasionally there may be a commercial relationship behind the endorsement. You have the right to choose your own conveyancer. You need to be aware that some mortgage providers operate an approved list of lawyers you are obliged to use for the lender aspect of your transaction.