My husband and I are planning to purchase a house in Whittlesey and have instructed a Whittlesey conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. HSBC Bank have this morning contacted us to advise us that there is now an issue as our Whittlesey conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers 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 Quality Scheme. Your solicitor should contact your bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Whittlesey solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Whittlesey. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
Where you plan to re-mortgage then TSB will insist on your using a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Taking into account that I will soon spend hundreds of thousands of pounds on a two bedroom apartment in Whittlesey I wish to talk to a solicitor regarding thetransaction ahead of giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you speaking to the solicitor due to be carrying out your property ownership legalities in Whittlesey.There is no ‘factory style conveyancing’ - every client is an important individual, not a case reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Whittlesey should be the amount on the final invoice that you end up paying.
In searching the web for the phrase conveyancing in Whittlesey it brings up numerous solicitorsin the vicinity. With so much choice what is the best way to find the right conveyancing solicitor for me?
The preferential method of choosing the right conveyancer is via personal referral, so enquire of friends and relatives who have bought a property in Whittlesey or a respected estate agent or financial adviser. Charges for conveyancing in Whittlesey differ, so it's sensible to obtain a minimum of four costs illustrations from different law firms. Make sure that you clarify what costs in the quote includes.
Last August I purchased a leasehold property in Whittlesey. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Whittlesey - Sample of Questions you should consider before Purchasing
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On the whole the outlay for major works are not incorporated into the service charges, although a few managing agents in Whittlesey obliged leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for major works. What is the yearly maintenance fee and ground rent? It is important to be aware if fixing the lift or some other significant cost is anticipated to be shared amongst the leaseholders and could well materially impact the level of the service costs or require a one off payment.
I am purchasing a house and require a conveyancing solicitor in Whittlesey who is on the mortgage company solicitor panel. Can you recommend a Whittlesey or local firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who do conveyancing in Whittlesey. We dont recommend any particular firm.