My husband and I are looking to acquire a property in Ham and are in fact using a Ham conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Skipton Building Society have this evening contacted us to inform me that there is now an issue as our Ham lawyer is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Ham solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I happen to be the only recipient of my late grandmother’s estate and I have everything in my name now, including the my former home in Ham. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the house. I do know about the CML 6 month 'rule', meaning my property ownership could be regarded the same way as though I had purchased the house in January. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view banks take of it, depend on the bank as this obligation chiefly exists to capture the purchase and immediately sell or the wholesaling and assigning of property.
is it true that all Ham solicitor practices on the UBS conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the SRA. Many mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be governed by the Council of Licensed Conveyancers.
We previously instructed conveyancers locally in Ham on the Virgin Money solicitor panel. They are now charging me a further charge for the legal aspects of the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your property lawyer may charge a fee for this. This fee is not dictated by Virgin Money but by your Ham conveyancing practitioner. Numerous firms on the Virgin Money panel will quote an ‘acting for lender’ fee and others do not.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Ham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ham
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Ham is where the house is located. Can you offer any opinion?
Flying freeholds in Ham are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ham you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ham may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How does the Landlord & Tenant Act 1954 impact my business premises in Ham and how can your lawyers assist?
The 1954 Act gives security of tenure to commercial tenants, granting the legal entitlement to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and assist with commercial conveyancing in Ham
Is it best to instruct a Ham conveyancing practitioner based in the area that I am buying? We have a good friend who can carry out the legal work however they are based 300miles drive away.
The benefit of a local Ham conveyancing practice is that you can drop in to execute documents, deliver your identification documents and apply pressure on them if necessary. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and on the whole were happy that must trump using an unfamiliar Ham conveyancing lawyer solely due to them being round the corner.