Me and my fiance are intending to purchase a 2 bedroom flat in Callington with a mortgage. We like our Callington conveyancer, but the bank says she’s not on their "panel". It seems we have little choice but to use one of the mortgage company panel solicitors or retain our Callington conveyancer and pay for one of their panel firms to represent them. This feels very unfair; are we not able to require that the lender use our Callington conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Callington conveyancing lawyer to apply to be on the conveyancing panel.
I am the registered owner of a freehold premises in Callington but nevertheless charged rent, why is this and what is this?
It is rare for properties in Callington and has limited impact for conveyancing in Callington 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 fresh 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 post 2037 is to be extinguished.
My property lawyer in Callington is not on the Clydesdale Solicitor Panel. Can I still use my prefered solicitor even though they are excluded from the Clydesdale panel?
The limited options available to you here include:
- Complete the purchase with your existing Callington lawyers but Clydesdale will need to instruct a solicitor on their list of acceptable firms. This will result in additional total legal fees and cause frustration.
- Find a new lawyer to to deal with the purchase, not forgetting to check they are Persuade your conveyancer to do everything within their powers to join the Clydesdale conveyancing panel
How does conveyancing in Callington differ for new build properties?
Most buyers of new build or newly converted property in Callington come to us having been asked by the developer to exchange contracts and commit to the purchase even before the property is ready to move into. This is because developers in Callington tend to purchase 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 conveyancers 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 Callington or who has acted in the same development.
My wife and I may need to rent out our Callington 1st floor flat temporarily due to a career opportunity. We instructed a Callington conveyancing firm in 2001 but they have closed and we did not think at the time seek any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
The lease governs relations between the freeholder and you the leaseholder; in particular, it will say if subletting is banned, or permitted but only subject to certain conditions. The accepted inference is that if the lease contains no specific ban or restriction, subletting is allowed. Most leases in Callington do not contain subletting altogether – such a provision would adversely affect the market value the flat. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly supplying a copy of the sublease.
I own a basement flat in Callington, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Similar properties in Callington with over 90 years remaining are worth £192,000. The average or mid-range amount of ground rent is £55 per annum. The lease runs out on 21st October 2080
With only 54 years left to run we estimate the price of your lease extension to range between £32,300 and £37,400 as well as legals.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.
I'm remortgaging a property in Callington. I have found my conveyancer's company on the CLC list, but I can't see my conveyancer's name on the list. Should I be concerned?
Not every individual in the law firm must be listed by the regulator. As long there is a manager qualified to 'oversee' the work, the actual day-to-day activity can be undertaken by unlicensed staff.