My partner and I are planning to acquire a house in Newall Green and are in fact using a Newall Green conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. The Mortgage Works have this afternoon contacted us to advise us that they have now hit a problem as our Newall Green solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is usual 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 solicitor should contact your bank 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 bank's conveyancing panel as you are at liberty to use your preferred Newall Green lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I own a freehold premises in Newall Green yet charged rent, why is this and what is this?
It’s unusual for properties in Newall Green and has limited impact for conveyancing in Newall Green 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 fresh rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I have been told that property searches are the primary reason for delay in Newall Green house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of holding up conveyancing in Newall Green.
I have recentlybeen informed that Stirling Law have closed. They conducted my conveyancing in Newall Green for a purchase of a freehold house 18 months ago. How can I check that my home is not still registered in the name of the previous owner?
The easiest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Newall Green conveyancing specialists.
About to purchase a new build flat in Newall Green. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Newall Green
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Am I best advised to choose a Newall Green conveyancing practitioner based in the vicinity that I am hoping to buy? I have an old university friend who can execute the conveyancing but his firm is located over three hundred kilometers away.
The primary upside of using a local Newall Green conveyancing practice is that you can attend the office to execute paperwork, deliver your ID and apply pressure on them if necessary. They will also have local knowledge which is a benefit. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and on the whole were happy that must outweigh using an unfamiliar Newall Green conveyancing solicitor just because they are round the corner.