I am acquiring property in Boxmoor. My lawyer is not listed on the lender conveyancing panel. Can I still appoint my Boxmoor conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
You will need to instruct a conveyancing practitioner to deal with the legal work required if you take out a loan to buy your home. The conveyancer will conduct all the essential due diligence on the property, make sure that you will be registered as proprietor and ensure that all the required mortgage documentation is dealt with. You could instruct a Boxmoor lawyer of your choosing. Nevertheless, if the solicitor selected is not on the mortgage company solicitor panel further costs will be incurred as separate legal representation will be required by them. Lender panel applications can be submitted, so where your lawyer has not previously applied for membership they should do so.
I am the registered owner of a freehold house in Boxmoor but still charged rent, why is this and what is this?
It’s unusual for properties in Boxmoor and has limited impact for conveyancing in Boxmoor 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 generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
We wanted to use a property lawyer in Boxmoor for our house purchase. Our broker has since notified us that our mortgage company Accord Mortgages Ltd won't deal with them. Surely this is unfair competition?
A mortgage company will direct that an approved solicitor act for it. You would be expected to meet the cost of this. Try using our tool to select a solicitor to carry conveyancing in Boxmoor on the Accord Mortgages Ltd member panel.
When it comes to lenders such as TSB, do Boxmoor conveyancing practitioners have to pay an annual charge to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
I am purchasing a property in Boxmoor. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Coventry BS your lawyer must check the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease fails to meet these conditions. The provisions relate to the installation of panels on properties nationwide and is not limited to Boxmoor.
I recently had an offer agreed on an apartment in Boxmoor. My mortgage broker suggested a solicitor. I paid an on account payment of £150. Soon after, the property lawyer called me embarrassingly acknowledging that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I purchased a renovated Georgian house in Boxmoor. Conveyancing practitioner represented me and Barnsley Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the exact same address. Is it worth asking Barnsley Building Society to clarify?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Boxmoor and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with the conveyancing solicitor who completed the work.
I am purchasing my first flat in Boxmoor with the aid of help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not to tell my conveyancer about the deal as it could jeopardize my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.