We are purchasing a 3 bedroom flat in Tickhill with a mortgage. We like our Tickhill solicitor, however the bank says he's not on their "panel". It appears that we have no choice but to select one of the bank panel firms or continue with our Tickhill solicitor as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
No, not really. 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 Tickhill conveyancing lawyer to apply to be on the conveyancing panel.
I own a freehold property in Tickhill but still pay rent, why is this and what is this?
It is rare for properties in Tickhill and has limited impact for conveyancing in Tickhill 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 have existed for hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
I am considering applying for a HSBC mortgage for purchase of a newly converted (under development) in Tickhill with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC 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.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Tickhill?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Tickhill. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey done on a property in Tickhill in advance of instructing conveyancers. I have been informed that there is a flying freehold element to the property. The surveyor has said that some mortgage companies may not give a loan on such a premises.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tickhill. Conveyancing may be slightly more expensive based on your lender's requirements.
Hoping to buy a property located in Tickhill and I am already nervous. I couldn't find anything specific about Tickhill. Conveyancing will be needed in due course but do you know about the Tickhill area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Tickhill. In the meantime here are some basic statistics that we found