Am I correct in assuming that the fact that my solicitor in Witham is not listed on my bank's conveyancing panel that there is a problem with the quality of his work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Witham conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
I am in a contract race with another prospective purchaser for a property in Witham. What can I do to expedite matters?
In the event that you are under time constraints for your conveyancing we would recommend that your solicitor is familiar with the location as they will benefit local contacts and insight. It is even conceivable that they would have handled previoushouses in the same neighbourhood. You would be best advised to use a Witham conveyancing solicitor. Second, double check that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that just under twenty per cent of Witham conveyancing deals are suspended or jeopardised after discovering a purchaser’s solicitor was not on their mortgage lender’s panel. In many cases this discovery resulted in the home move being frustrated by as much as 21 days. It is understood that this issue impacts in the region of one hundred thousand home moves annually. Many Witham conveyancing firms can not represent certain lenders so do check as early as possible.
I purchased a freehold premises in Witham but nevertheless pay rent, why is this and what is this?
It is rare for properties in Witham and has limited impact for conveyancing in Witham 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 new rentcharges post 1977.
Previous rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
I'm the sole recipient of my late mum's estate and I have everything in my name alone, including the house in Witham. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my property ownership could be considered the same way as though I had purchased the property in March. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Most lenders would take a sensible view as this provision principally exists to identify the purchase and immediately sell or the flipping of properties.
Can you point me to a directory of HSBC panel solicitors in Witham on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings available on the web. If you are looking for a Witham solicitor on the HSBC please make the most of our tool.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Witham lawyer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Bank of Ireland mortgage from the register. Bank of Ireland, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am buying a house and the solicitor has raised the issue of Chancel Repair for which the house may be obligated to contribute to because it falls into the area of such a church. He has mentioned insurance. Is this really appropriate for conveyancing in Witham
Unless a previous acquisition of the premises completed after 12 October 2013 you can take it that lawyers delivering conveyancing in Witham to continue to propose a a chancel search and or insurance against a claim.
Last October I purchased a leasehold house in Witham. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Witham Leasehold Conveyancing - Examples of Questions you should ask before Purchasing
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This question is helpful as a) areas may cause problems for the block as the common areas may start to deteriorate where services remain unpaid b) if the leaseholders have an issue with the managing agents you will need to have full disclosure Its a good idea to find out as much as you can about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the tidiness of the communal areas. Enquire of prospective neighbours if they are happy with them. Finally, investigate as to the dates that you are obliged pay the service charge to the relevant party and precisely what it includes.