I am progressing with the sale of my home in Hereford and the estate agent has just text me to warn that the purchasers are switching conveyancer. The reason given is that the lender will only engage with solicitors on their conveyancing panel. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Hereford ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
The Hereford conveyancing firm handling our Hereford conveyancing has discovered an inconsistency between the assumptions in the valuation survey and what is in the title deeds. My lawyer has advised that he is duty bound to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I own a freehold house in Hereford but still charged rent, why is this and what is this?
It is rare for properties in Hereford and has limited impact for conveyancing in Hereford 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 many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Old 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 looking to buy a house and need a conveyancing solicitor in Hereford who is on the Accord Mortgages Ltd approved. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Accord Mortgages Ltd in certain locations such as Hereford. We dont recommend any particular firm.
I just bought a property at auction in Hereford. Conveyancing is required. What are my next steps?
Given that you are now for in every practical sense signed on the dotted line you now have to choose a conveyancing practitioner as a matter of urgency as you will have a tight a fixed date to complete the conveyancing. An auction property will ordinarily have an associated auction pack. This will include evidence of title and search results. Where you are dealing with leasehold premises the auction pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to leasehold premises. You should pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that your finances are organised to complete on the date specified in the contract.
When it comes to mortgage companies such as Lloyds, do Hereford conveyancing practitioners incur a yearly amount to be on the list of approved solicitors?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Completion of my remortgage has taken place for my property in Hereford. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have recently realised that I have 68 years remaining on my lease in Hereford. I am keen to get lease extension but my freeholder is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be extended by the magistrate. You will be obliged to prove that you have done all that could be expected to locate the landlord. For most situations a specialist would be useful to conduct investigations and to produce a report to be accepted by the court as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer in relation to proving the landlord’s absence and the application to the County Court covering Hereford.
Hereford Conveyancing for Leasehold Flats - A selection of Queries before buying
Who manages the building? Are there any major works in the planning that will likely add a premium to the maintenance fees? The prefered form of lease structure is if the freehold title is in the ownership of the leaseholders. In this situation the lessees have being in charge if their destiny and even though a managing agent is usually employed where the building is larger than a house conversion, the managing agent is directed by the tenants.