My husband and I are looking to purchase a property in Winscombe and are in fact using a Winscombe conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Skipton Building Society have this afternoon contacted us to advise us that there is now an issue as our Winscombe lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is usual 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 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 bank's conveyancing panel as you are at liberty to use your preferred Winscombe lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am the registered owner of a freehold residence in Winscombe yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Winscombe and has limited impact for conveyancing in Winscombe 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I am downsizing from our home in Winscombe and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A high street Winscombe lawyer would know this is not the case. It does beg the question why the purchasers used a factory type conveyancing outfit as opposed to a conveyancing solicitor in Winscombe. We have lived in Winscombe for 4 years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation that there is no issue.
It sounds as though you may have a conveyancing solicitor currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am thinking of appointing a conveyancing practitioner in Winscombe for my house move. Is there any facility to check a solicitor's complaints history with the legal regulator?
You can search for documented Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training reasons.
I am a negotiator for a busy estate agency in Winscombe where we have witnessed a number of leasehold sales jeopardised due to short leases. I have been given inconsistent advice from local Winscombe conveyancing solicitors. Please can you confirm whether the vendor of a flat can commence the lease extension process for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Winscombe - A selection of Queries before buying
-
The majority of Winscombe leasehold apartments will have a service bill for the upkeep of the building levied on behalf of the management company. Should you buy the flat you will have to pay this amount, usually in instalments during the year. This could be anything from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. In all probability there will be a ground rent for you to pay annual, ordinarily this is not a significant sum, say about £50-£100 but you should to enquire as sometimes it could be many hundreds of pounds. This information is important as a) areas may cause problems for the block as the common areas may start to deteriorate where maintenance are not paid for b) if the leasehold owners have a dispute with the running of the building you will need to have complete disclosure Is the freehold reversion owned collectively by the leaseholders?
Should I be worried if there is a problem with the searches conducted as part of my conveyancing in Winscombe?
Ordinarily, most issues arising from Winscombe conveyancing search results can be handled before completion or title insurance may be obtained. It is important to note that even though you are acquiring the premises and may be willing to accept the search results, your lender may not, and ultimately have the final decision.