I am getting closer to an exchange on a house in Rayleigh and my parents have sent the ten percent deposit to my lawyer. I am now advised that as the deposit has not arrived from me my lawyer needs to make a notification to my mortgage company. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
Your lawyer is duty bound to check with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I own a freehold house in Rayleigh but nevertheless pay rent, why is this and what is this?
It is rare for properties in Rayleigh and has limited impact for conveyancing in Rayleigh 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 hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
My fiance and I are buying a purpose built flat in Rayleigh with a loan from HSBC Bank.We like our Rayleigh conveyancing lawyer but HSBC Bank advised that she’s not listed on their approved list of member firms. It seems we are left with little choice but to instruct a HSBC Bank panel lawyer or retain our high street solicitor and pay for a HSBC Bank panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan issued to you is subject to its terms and conditions, a common one being that solicitors must be on the HSBC Bank approved list. Until recently, most banks had large numbers of law firms 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for HSBC Bank
I have recentlydiscovered that Stirling Law have been shut down. They conducted my conveyancing in Rayleigh for a purchase of a freehold house 9 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can make 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 Rayleigh conveyancing specialists.
I have been pointed in your direction by numerous property agents in Rayleigh to choose a property lawyer on your site. Is there a financial advantage for Estate Agents to offer your services over alternative conveyancing organisations?
We refuse to make any commission for sending work in our direction. We thought it would be too underhand a fee because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
My husband and I are first time buyers - had an offer accepted, but the property agent advised that the owners will only proceed if we instruct their preferred solicitors as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor used to conveyancing in Rayleigh
It is highly unlikely the owners are behind this. If they want ‘a quick sale', alienating a motivated purchaser is is going to put the whole deal at risk. Contact the vendors directly and make sure they comprehend that (a)you are keen to buy (b)you are ready to go, with finances in place © you do not need to sell (d) you wish to move quickly (e)however you will continue to appoint your preferred Rayleigh conveyancing solicitors - not the ones that will provide their negotiator at the agency a introducer fee or achieve conveyancing targets set by HQ.