My partner and I are hoping to buy a home in Waolstenholme and have appointed a Waolstenholme conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Ireland have this morning contacted us to inform me that they have now hit a problem as our Waolstenholme conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for 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 lender’s conveyancing panel as you are at liberty to use your preferred Waolstenholme lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I purchased a freehold house in Waolstenholme but still charged rent, why is this and what is this?
It is rare for properties in Waolstenholme and has limited impact for conveyancing in Waolstenholme 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 is to be extinguished.
I have been recommended a conveyancing solicitor in Waolstenholme. I I am struggling to find out whether they are on the Nottingham Building Society conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing to do is contact your conveyancer and enquire whether they are on the lender panel. Otherwise you can call Nottingham Building Society who may be able to assist.
I have todayfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Waolstenholme for a purchase of a freehold house 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The easiest way to see if the property 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 Waolstenholme conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a simple, chain free conveyancing. Waolstenholme is the location of the property. Can you offer any advice?
Flying freeholds in Waolstenholme are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Waolstenholme you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waolstenholme may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
As co-executor for the will of my uncle I am selling a residence in Swansea but live in Waolstenholme. My conveyancer (who is 200 miles awayrequires that I sign a stat dec ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Waolstenholme to witness this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or solicitor will do regardless of whether they are Waolstenholme based