We are intending to purchase a 3 bedroom flat in Rickmansworth with a mortgage. We have a Rickmansworth conveyancer, but the mortgage company advise she’s not on their "panel". It appears that we have little choice but to instruct one of the mortgage company panel firms or retain our Rickmansworth conveyancing practitioner and pay for one of their panel lawyers to represent them. We consider that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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. A further alternative is for your Rickmansworth conveyancing solicitor to apply to be on the conveyancing panel.
Should conveyancers ask for money up-front when it comes to conveyancing in Rickmansworth?
Where you are retaining lawyers for conveyancing in Rickmansworth your lawyer will ask you to provide them with funds to cover the search fees. This will be the total of the cost of the Local Authority Search. If any down payment is payable against the sale price then this will be needed shortly ahead of contracts are exchanged. The closing balance that is needed should be transferred shortly before completion.
My grandmother passed away last year and as sole heir and executor I was left the house in Rickmansworth. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to Principality, pay off the mortgage. Is this allowed?
Given you plan to refinance then Principality will insist on your using a conveyancer on the Principality conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Principality conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Principality mortgage is registered as a charge at the Land Registry.
I happen to be the single recipient of my late father’s will and I have everything in my name now, including the house in Rickmansworth. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I understand that there is a CML 6 month 'rule', which means that my property ownership may be treated the same way as though I had purchased the property in May. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. many mortgage companies would take a sensible view as this requirement principally exists to capture subsales or the flipping of property.
The formalities of my purchase has taken place for my property in Rickmansworth. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
About to purchase maisonette in Rickmansworth. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Barclays conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Rickmansworth conveyancer is on the Barclays conveyancing panel.
Just had an offer accepted on a new build apartment in Rickmansworth. Conveyancing is necessary evil 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.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Rickmansworth
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I am looking for a leasehold apartment up to £305k and found one round the corner in Rickmansworth I like with amenity areas and railway links in the vicinity, however it's only got 61 years unexpired on the lease. There is not much else in Rickmansworth for this price, so just wondered if I would be making a grave error buying a short lease?
Should you require a mortgage the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.