I am hoping to receive a offer of a home loan from Halifax. I intend to employ the services of a Licensed Conveyancer in Market Rasen. Does the Halifax Conveyancing panel allow for conveyancers regulated by the CLC?
The Halifax conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
Our god-son is about to exchange on a house that has just been built in Market Rasen with a home loan from Leeds Building Society. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I purchased a freehold residence in Market Rasen but still pay rent, why is this and what is this?
It is rare for properties in Market Rasen and has limited impact for conveyancing in Market Rasen 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My fiance and I are buying a newly converted apartment in Market Rasen with a loan from The Mortgage Works.We use our Market Rasen conveyancing solicitor but The Mortgage Works advised that he's not on their "panel". we are left little option but to use a The Mortgage Works panel lawyer or keep our high street solicitor and fork out for a The Mortgage Works panel lawyer to act for them. This seems very unfair; Can we not simply insist that The Mortgage Works use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, one of which will be that solicitors will be on the The Mortgage Works approved list. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for The Mortgage Works
I purchased a semi-detached Georgian house in Market Rasen. Conveyancing lawyer represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold with the matching address. Is it worth asking Leeds Building Society to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Market Rasen and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who conducted the conveyancing.
Been reading online that Market Rasen solicitors are more expensive than Market Rasen conveyancers in Market Rasen when it comes to purchasing a house. Am I better off using a conveyancer or a solicitor where I am purchasing a house in Market Rasen.
When it comes to conveyancing in Market Rasen the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.