We are buying a 2 bedroom flat in Deddington with a mortgage. We wish to retain our Deddington solicitor, however the mortgage company says he's not on their "panel". It appears that we have no option but to instruct one of the lender panel conveyancing practices or continue with our Deddington solicitor and pay for one of their panel firms to represent them. This seems very unfair; can we not insist that the bank use our Deddington property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Deddington conveyancing lawyer to apply to be on the conveyancing panel.
I purchased a freehold residence in Deddington yet pay rent, why is this and what is this?
It’s unusual for properties in Deddington and has limited impact for conveyancing in Deddington 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 redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
A relative suggested that where I am buying in Deddington I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Deddington conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Deddington around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Deddington Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Deddington Education with plans and statistics, Local Amenities and other useful data regarding Deddington.
I used Action Conveyancing a few years past for my conveyancing in Deddington. I now require my file but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Deddington of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I work for a long established estate agency in Deddington where we have experienced a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have received contradictory information from local Deddington conveyancing firms. Could you confirm whether the vendor of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
I acquired a studio flat in Deddington, conveyancing was carried out 10 years ago. Can you shed any light on how much the price could be for a 90 year extension to my lease? Corresponding flats in Deddington with over 90 years remaining are worth £222,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease ceases on 21st October 2096
With 71 years remaining on your lease the likely cost is going to span between £9,500 and £11,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first getting professional advice.
Should I stop the direct debit for my mortgage with Principality once a completion date for my home sale in Deddington has been agreed?
No, you must continue paying any mortgage payments to Principality pending the mortgage being redeemed from the proceeds of sale as part of your Deddington conveyancing.