I have just been advised by my estate agent that my Castle Bromwich the law firm I have appointed is not on the lender Conveyancing panel. How can I be sure whether this is correct?
You need to call your Castle Bromwich conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
I am the registered owner of a freehold property in Castle Bromwich but nevertheless invoiced for rent, why is this and what is this?
It’s unusual for properties in Castle Bromwich and has limited impact for conveyancing in Castle Bromwich 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 establishment of fresh rentcharges post 1977.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be extinguished.
How do I check that the solicitor handling my conveyancing in Castle Bromwich is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Coventry Building Society thus spending £187.00 plus VAT in another set of conveyancing charges.
Please do take advantage of the search tool on this web page. Please choose the lender and type ‘Castle Bromwich’ or your location and you will see a number of lawyer located in Castle Bromwich or by proximity to you.
My wife and I are buying a flat in Castle Bromwich. I might seem paranoid but how we can trust a solicitor? On the day of competition we have to put money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have a mortgage with Barclays for my property in Castle Bromwich. Conveyancing has been completed some time ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
Your original mortgage agreement with Barclays will provide that you need their approval before renting your property as this is likely to be a breach of Barclays’s mortgage conditions. It may be that Barclays will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel lawyer.
Having read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Castle Bromwich solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Castle Bromwich surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Are there restrictive covenants that are commonly identified as part of conveyancing in Castle Bromwich?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Castle Bromwich. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Castle Bromwich differ for new build properties?
Most buyers of new build property in Castle Bromwich approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Castle Bromwich 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 Castle Bromwich or who has acted in the same development.