My wife and I are hoping to buy a flat in Ham and have appointed a Ham conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Virgin Money have this afternoon contacted us to advise us that there is now an issue as our Ham lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also act for the purchaser's lender. 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 property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Ham lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My husband and I are buying a purpose built apartment in Ham with a residential mortgage from TSB.We use our Ham conveyancing lawyer but TSB says his firm is not listed on their approved list of firms. we are left little option but to use a TSB panel solicitor or retain our local solicitor and fork out for a TSB panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers must be on the TSB approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for TSB
Please help - my lawyer advises that breach of easement insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Ham?
The right level of breach of easement indemnity insurance depends on your lender. It would differ for example between Halifax and The Royal Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such insurances.
I am the single beneficiary of my late mum's will and I have everything in my name alone, including the my former home in Ham. Conveyancing formalities meant that the Land Registry date was in June. I plan to dispose of the house. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my property ownership will be considered the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers 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 impacted by that. How practical a view lenders take of it, depend on the lender as this requirement is principally there to capture the purchase and immediately sell or the wholesaling and assigning of properties.
When it comes to mortgage companies such as Aldermore, do Ham conveyancing practitioners incur a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am looking to sell my house. My past lawyers has retired. I am in need of a recommendation of a conveyancing firm. I happen to live in Ham if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Ham. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
Am I best advised to instruct a Ham conveyancing solicitor who is local to the property I am purchasing? An old friend can handle the legal formalities but his firm is located over three hundred kilometers away.
The benefit of a high street Ham conveyancing firm 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 bonus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that should outweigh using an unknown Ham conveyancing solicitor just because they are Ham based.
I have just started marketing my basement apartment in Ham. Conveyancing solicitors are to be appointed soon, but I have recently received a quarterly maintenance charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the maintenance contribution as normal because all ground rent and maintenance invoices will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Having spent years of dialogue we are unable to agree with our landlord on how much the lease extension should cost for our flat in Ham. Can we issue an application to the Residential Property Tribunal Service?
in cases where there is a missing landlord or where there is dispute about the premium for a lease extension, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the First-tier Tribunal (Property Chamber) to decide the premium.
An example of a Lease Extension decision for a Ham residence is Flat D 15 Claremont Gardens in September 2013. TheTribunal determined in accordance with section48 and Schedule13 of the Leasehold Reform,Housing and Urban Development Act 1993 that the premium for the extended lease should be fourteen thousand one hundred and eighty seven pounds (£14,187.00) This case was in relation to 1 flat.