My husband and I are purchasing a 2 bedroom flat in Teignmouth with a mortgage. We have a Teignmouth conveyancer, but the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel solicitors or keep our Teignmouth lawyer and pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to demand that the bank use our Teignmouth conveyancer ?
Unfortunately,no. Your mortgage offer 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. Another option that might be available is for your Teignmouth conveyancing solicitor to apply to be on the conveyancing panel.
I am the registered owner of a freehold residence in Teignmouth yet pay rent, why is this and what is this?
It is rare for properties in Teignmouth and has limited impact for conveyancing in Teignmouth 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 many centuries, but the Rent Charge Act 1977 barred the creation of fresh 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 post 2037 is to be dispensed with completely.
My Solicitor in Teignmouth is not listed on the Platform Home Loans Ltd Solicitor Panel. Can I still use my family solicitor notwithstanding that they are not on the Platform Home Loans Ltd approved list?
Your options are as follows:
- Complete the purchase with your preferred Teignmouth solicitors but Platform Home Loans Ltd will need to instruct a solicitor on their list of acceptable firms. This will result in additional overall legal fees and cause frustration.
- Choose an alternative solicitor to act in the conveyancing, remembering to check they are Persuade your lawyer to do everything within their powers to join the Platform Home Loans Ltd conveyancing panel
I appreciate that there are debates on Chancel Insurance on online forums. Do I need this when acquiring a residence in Teignmouth? or Apparently there is historic law that could mean that house owners residing in a parish church boundary may be liable to contribute towards maintenance towards the chancel within the church. Is this a legitimate concern for conveyancing in Teignmouth?
Unless a previous acquisition of the premises completed after 12 October 2013 you may assume that solicitors handling conveyancing in Teignmouth to remain encouraging a chancel search and or chancel repair liability insurance.
I have recentlybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Teignmouth for a purchase of a leasehold flat 9 months ago. How can I be sure that the property is registered correctly in the name of the former proprietor?
The quickest method to see if the premises is in your name, you can carry out 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 Teignmouth conveyancing specialists.
I'm purchasing my first flat in Teignmouth benefiting from help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not disclose to my solicitor about the deal as it would impact my loan with the lender. Should I keep quiet?.
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.