I am in the process of selling my home in Northamptonshire and the estate agent has just called to warn that the purchasers are switching conveyancer. The excuse is that the bank will only work with solicitors on their approved list. Why would a big named lender only deal with specific law firms rather the firm that they want to appoint for their conveyancing in Northamptonshire ?
Banks have always had an approved set of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – 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 says it is hearing daily from firms that have been removed from panels. Some 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.
Can the conveyancing lawyers that you recommend carry out attended exchange conveyancing in Northamptonshire?
We do have a number of conveyancing experts who can conduct one day exchanges. Please call us to obtain a conveyancing quote and details as to dates.
I own a freehold premises in Northamptonshire but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Northamptonshire and has limited impact for conveyancing in Northamptonshire 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 creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
A colleague suggested that where I am buying in Northamptonshire I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes quoted for as part of the standard Northamptonshire conveyancing searches. It is a large report of more than thirty pages, listing and setting out important information about Northamptonshire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful data regarding Northamptonshire.
How does conveyancing in Northamptonshire differ for new build properties?
Most buyers of new build or newly converted property in Northamptonshire contact us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because builders in Northamptonshire tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Northamptonshire or who has acted in the same development.
My mother and father are unable to locate their Northamptonshire property on the HMLR site. They recall that back in the 60’s when they acquired the property there were complications with Northamptonshire not being recognised in some systems.
Nearly all properties in Northamptonshire should appear. Have you limited your search to just the postcode. Normally it will disclose all the houses and flats within the postcode. Where recorded it will be there with a title number. If they bought back in the 60’s it's conceivable it may be not yet registered. The address might still be revealed but with the title number identified as 'na'. In this scenario you will need to track down the original title papers which might be with your parent’s lender.