My wife and I are hoping to buy a home in Hathern and are in fact using a Hathern conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Birmingham Midshires have this evening contacted us to inform me that they have now hit a problem as our Hathern lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent 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 Quality 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 solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Hathern solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Would the conveyancing solicitors identified through your search tool handle auction conveyancing in Hathern?
We know of a few niche practitioners we can connect you with those who can conduct auction conveyancing. Hathern is one of hundreds of locations in which our lawyers have offices.
I own a freehold house in Hathern yet charged rent, why is this and what is this?
It’s unusual for properties in Hathern and has limited impact for conveyancing in Hathern 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 extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 will be extinguished.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Hathern. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/9/2020, the requirements read as follows :
is it true that all Hathern solicitor practices on the Santander conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Santander approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
I was told three weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Hathern is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Our offer on a house in Hathern has been agreed to, the owners do nevertheless have an associated purchase. The sellers have offered on on an apartment, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Hathern. What do I do now? At what point should I apply for the mortgage with Barclays?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of one thousand pounds, then valuation, Hathern conveyancing search charges, etc). The first course of action is to check that your conveyancing practitioner is on the Barclays approved list. Regarding the next phase this very much dictated by the specifics of your transaction, attraction to this property and on the state of the market. In a buoyant market the majority of home buyers would apply for the mortgage with Barclays and arrange for the valuation and only if it was satisfactory would they pay their solicitor to proceed with the conveyancing in Hathern.
I am selling my property. My previous solicitors closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Hathern if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Hathern. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.