I can't travel far from Badsey. Can you please explain the reason why all Badsey conveyancers are not on all mortgage company panels?
As unjust as it may seem for mortgage companies to restrict who can represent them, from the public’s or lawyer’s standpoint, the flip side is that banks are increasingly anxious and regard it necessary to protect them from illegal activities. As a consequence of this concern lenders have reduced their panel of approved conveyancing lawyers to a manageable size.
Me and my partner are soon to complete on the purchase of a house in Badsey but as a consequence of damage from a small fire at the property I have was able negotiate compensation from the seller in the sum of £3k in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process yet Aldermore are not allowing this. Should they have been notified?
Your solicitor being on a Aldermore conveyancing panel is obliged to inform Aldermore of any changes to the sale price. If you were to refuse your conveyancing practitioner to notify the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new conveyancer for your conveyancing in Badsey.
I own a freehold residence in Badsey but still charged rent, why is this and what is this?
It’s unusual for properties in Badsey and has limited impact for conveyancing in Badsey 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.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
We are selling our apartment in Badsey. Will my lawyer have to be on the UBS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the UBS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently currently.
I have been pointed in your direction by two or three local estate agents in Badsey to find a solicitor on your site. Is there a financial upside for Estate Agents to recommend your services over a competitor’s?
We don’t offer any financial incentive for directing people in our direction. We thought it would be too underhand a fee because members of the public would think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My husband and I are FTB’s - had an offer accepted, yet the property agent has warned us that the owners will only issue a contract if we appoint their recommended lawyers as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor with experience of conveyancing in Badsey
It is highly unlikely the owners are driving this. If they require ‘a quick sale', turning down a motivated purchaser is counter productive. Bypass the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to go, with finances in place © you do not need to sell (d) you wish to move quickly (e)but you intend to instruct your preferred Badsey conveyancing solicitors - rather thanthose that will provide the estate agent a introducer fee or meet his conveyancing figures set by head office.