My fiance and I are looking to acquire a house in Tickton and have instructed a Tickton conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this evening contacted us to inform me that they have now hit a problem as our Tickton lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. 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 property lawyer 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 and you may continue to use your own Tickton solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I own a freehold property in Tickton but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Tickton and has limited impact for conveyancing in Tickton 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 date back many centuries, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
Is it the case that all Tickton conveyancing solicitors on the Coventry BS conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be overseen by the SRA. Many lenders do allow licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
We expect to receive a DIP from Barclays this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Barclays recommend any Tickton solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Tickton solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
I am selling my apartment. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being problematic. The Tickton solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
What can a local search reveal concerning the property I am buying in Tickton?
Tickton conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search organisations for instance Searches UK The local search plays a central part in many a Tickton conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will reveal information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
My wife and I have a 4 bedroom Victorian property in Tickton. Conveyancing lawyer represented me and Skipton Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Tickton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with the conveyancing solicitor who completed the work.
How does conveyancing in Tickton differ for new build properties?
Most buyers of new build or newly converted property in Tickton come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because developers in Tickton tend to purchase 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 conveyancers 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 Tickton or who has acted in the same development.