Is the fact that my solicitor in Ringmer is not listed on my mortgage company's conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Ringmer conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am the registered owner of a freehold property in Ringmer yet invoiced for rent, why is this and what is this?
It’s unusual for properties in Ringmer and has limited impact for conveyancing in Ringmer 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 generation 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 in 2037 will be extinguished.
Do the Building Society Association intend to launch a searchable register to list law firms on the Coventry BS conveyancing panel for instance in Ringmer?
We would not expect to be advised of any plans on the part of the BSA to promote such a register.
I'm buying my first flat in Ringmer benefiting from help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not inform my lawyer about this side-deal as it will impact my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a leasehold apartment up to £245,000 and found one round the corner in Ringmer I like with amenity areas and station in the vicinity, the downside is that it's only got 49 years unexpired on the lease. I can't really find anything else in Ringmer for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
If you need a mortgage the shortness of the lease will be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
I am purchasing a house with all finances in place. I have provided conveyancer with 2 distinct forms of photographic ID, bank statement, numerous utility bills. Now he wants a copy from a probate lawyer advising that the money is legitimate and that it has come from inheritance and not dealing E's in Ibiza.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your Ringmer conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.