My wife and I are hoping to acquire a flat in Swinton and are in fact using a Swinton conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Yorkshire Building Society have this morning contacted us to advise us that they have now hit a problem as our Swinton solicitor is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is conventional for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Swinton lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I purchased a freehold premises in Swinton but still pay rent, why is this and what is this?
It’s unusual for properties in Swinton and has limited impact for conveyancing in Swinton 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 establishment 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 after 2037 is to be dispensed with completely.
My husband and I decided to purchase a 1 bedroom apartment in Swinton with a loan from Barnsley Building Society.We like our Swinton conveyancing solicitor but Barnsley Building Society advised that his firm is not listed on their "panel". We have to appoint a Barnsley Building Society panel solicitor or keep our local solicitor and fork out for a Barnsley Building Society panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you contains terms and conditions, one of which will be that solicitors needs to be on the Barnsley Building Society solicitor panel. Until recently, most mortgage companies had large numbers of solicitors 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 Barnsley Building Society
I can see plenty of information on this site regarding conveyancing in Swinton but can you isolate your top tip for choosing the right conveyancer in Swinton
Do not opt for the lowest Swinton conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Completion of my purchase has taken place for my property in Swinton. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services 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 who will take matters further.
Clydesdale have agreed my home loan in principle, my offer on a property in Swinton has been accepted, now what?
The estate agent will need to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Telephone Clydesdale or the financial adviser and complete any relevant documentation. Clydesdale will instruct a valuer who will get in contact with the estate agent or seller to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes approximately a week to receive the mortgage offer. Clydesdale will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Swinton.
Should our solicitor be raising questions concerning flooding during the conveyancing in Swinton.
The risk of flooding is if increasing concern for lawyers dealing with homes in Swinton. There are those who purchase a property in Swinton, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, however there are a number of checks that can be carried out by the purchaser or on a buyer’s behalf which should figure out the risks in Swinton. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to find out if the property has suffered from flooding. In the event that flooding has previously occurred and is not notified by the seller, then a buyer may issue a legal claim for losses resulting from an inaccurate response. A purchaser’s solicitors should also carry out an environmental report. This should indicate if there is a recorded flood risk. If so, further inquiries should be initiated.
How does conveyancing in Swinton differ for new build properties?
Most buyers of new build property in Swinton approach us having been asked by the developer to exchange contracts and commit to the purchase even before the property is built. This is because house builders in Swinton typically 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 property lawyers 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 Swinton or who has acted in the same development.