My wife and I are purchasing a 1 bedroom apartment in Southsea with a mortgage. We like our Southsea lawyer, however the mortgage company says he's not on their "panel". It appears that we have no choice but to appoint one of the mortgage company panel conveyancing practices or keep our Southsea conveyancing practitioner and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Southsea conveyancing solicitor to apply to be on the conveyancing panel.
I purchased a freehold property in Southsea but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Southsea and has limited impact for conveyancing in Southsea 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 from 1977 onwards.
Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Are the BSA intent on creating a online directory to to identify firms on the Loughborough BS conveyancing panel for instance in Southsea?
We have not been informed any plans on the part of the BSA to promote such a tool.
I used Action Conveyancing a few years past for my conveyancing in Southsea. I now require my papers but cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Southsea of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Over the last few months I have been searching for a flat up to £245,000 and identified one close by in Southsea I like with a park and transport links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Southsea suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage that many years may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
Is it necessary during the course of the conveyancing process to pop into the offices of the mortgage company conveyancing panel solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Southsea as it will be easier to attend their offices if required.
Most conveyancing panel lawyers for the mortgage company undertake conveyancing via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Southsea. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.