I plan on purchasing residence in Lickey End. My Conveyancer is not on the mortgage company conveyancing list. Am I still permitted to appoint my Lickey End conveyancing solicitor even though they are excluded from the bank panel of approved conveyancing solicitors?
You must instruct a solicitor to complete the formalities when you need a mortgage to buy your property. They will conduct all the necessary legal checks on the property, ensuring that you’re registered as proprietor and ensure that all the required mortgage documentation is in place. One could appoint a Lickey End lawyer of your choosing. However, if the property lawyer selected is not a member of the mortgage company solicitor panel additional fees will arise as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so where your conveyancer has not previously applied for membership they can do so.
My wife and I are nearing an exchange on a property in Lickey End and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now told that as the deposit has been sent from someone other than me my solicitor needs to make a notification to my bank. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your conveyancing practitioner is duty bound to clarify with lender to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am the registered owner of a freehold premises in Lickey End but still charged rent, why is this and what is this?
It’s unusual for properties in Lickey End and has limited impact for conveyancing in Lickey End 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 generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
We are getting the release of further monies on our mortgage from UBS as we wish to carry out a loft conversion to our property in Lickey End. Are we obliged to appoint a high street Lickey End solicitor on the UBS conveyancing panel to handle the paperwork?
UBS would not normally appoint firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS panel.
I had a mortgage agreed in principle with RBS. Lickey End conveyancing lawyers are appointed. What is the average time that one could expect to receive a mortgage offer from RBS?
There is no definitive answer here. Have RBS completed the valuation? Have you advised RBS as to your lawyers' details and checked that your lawyers are on the RBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I currently have a mortgage with HSBC for my property in Lickey End. Conveyancing was finalised months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
HSBC must be informed of your intention in advance of renting your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel solicitor.
Should I be concerned about third parties that I am dealing with are suggesting an online conveyancing firm rather than a High Street Lickey End conveyancing company?
As is the case with lots of service providers, often recommendations from family and friends can be very helpful. Nevertheless there are numerous players in a conveyancing transaction; estate agents, mortgage brokers and lenders might all put forward lawyers to use. Sometimes the solicitors might be known to one of the organisations as being good in their field, but occasionally there is an underlying financial incentive behind the recommendation. You are at liberty to choose your preferred lawyer. Don't forget that the majority of mortgage providers have an approved list of conveyancers you are obliged to use for the lender aspect of your home move.
Should I choose a Lickey End conveyancing lawyer in close proximity to the house I am hoping to buy? I have an old university friend who can conduct the conveyancing however her office is over three hundred miles drive away.
The primary upside of using a high street Lickey End conveyancing practice is that you can visit the firm to sign paperwork, deliver your ID and apply pressure on them if necessary. Having local Lickey End know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust instructed your friend and on the whole were happy that must trump using an unfamiliar Lickey End conveyancing lawyer just because they are based in the area.