My partner and I are planning to buy a property in West Hill and are in fact using a West Hill conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. National Westminster Bank have this morning contacted us to advise us that they have now hit a problem as our West Hill solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred West Hill lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Would the conveyancing lawyers listed on your site carry out conveyancing in West Hill by way of an attended exchange?
We do have a number of conveyancing specialists carrying out one day exchanges. Do call us to get a costs illustration and details as to availability.
I am the registered owner of a freehold property in West Hill but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in West Hill and has limited impact for conveyancing in West Hill 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 establishment of new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
I have an AIP. The bank mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would much rather appoint a high street conveyancing solicitor in West Hill?
Do check but the chances are that allocate you one of their panel conveyancers if you accept the "fee-free" incentive. Call the mortgage company to determine if they offer you a cash alternative. Some lenders have previously offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor in West Hill.
The estate agent has sent us the confirmation of our purchase of a new build flat in West Hill. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in West Hill
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I need to appoint a conveyancing solicitor for freehold conveyancing in West Hill. I have land on a web site which looks to be the ideal solution If there is a chance to get all formalities done via web that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?