My fiance and I are looking to purchase a home in Whyteleafe and have instructed a Whyteleafe conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this morning contacted us to inform me that they have now hit a problem as our Whyteleafe conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also act for the mortgage company. 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 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Whyteleafe lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I am the registered owner of a freehold premises in Whyteleafe but nevertheless pay rent, why is this and what is this?
It’s unusual for properties in Whyteleafe and has limited impact for conveyancing in Whyteleafe 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 from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 is to be dispensed with completely.
is it true that all Whyteleafe solicitor practices on the Yorkshire BS conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Yorkshire BS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
I have decided to exercise my right to buy my property in Whyteleafe off the council. I have a mortgage agreed with RBS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with RBS, you will need to appoint a solicitor on the RBS conveyancing panel.
Planning on purchasing a maisonette in Whyteleafe. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Whyteleafe solicitor is on the Santander conveyancing panel.
How does conveyancing in Whyteleafe differ for newly converted properties?
Most buyers of new build property in Whyteleafe come to us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Whyteleafe usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Whyteleafe or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Whyteleafe prior to instructing solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some lenders will not grant a mortgage on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Halifax. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Whyteleafe. Conveyancing will be smoother if you use a solicitor in Whyteleafe especially if they are familiar with such properties in Whyteleafe.
I have been sourcing a conveyancing solicitor in Whyteleafe for my home move. Is there any facility to check a firm’s record with the legal regulator?
You can search for documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA could recorded call for training purposes.