My husband and I are hoping to acquire a house in Acocks Green and have appointed a Acocks Green conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Santander have this morning contacted us to inform me that they have now hit a problem as our Acocks Green lawyer is not on their conveyancing panel. What do we do from here?
Where you are buying a property requiring a mortgage it is usual for the purchasers' lawyers 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 solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Acocks Green solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
When it comes to mortgage companies such as Nationwide, do Acocks Green conveyancers incur a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I've digested plenty of mortgage guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Acocks Green solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Acocks Green surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I have finally had an offer on an apartment in Acocks Green agreed to, but there is a chain. The vendors have put an offer on a property, however it’s not been accepted yet, and have viewings of other properties in the pipeline. I have selected a local conveyancing solicitor in Acocks Green. What should be my next step? When do I get the mortgage application with Principality going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then survey, Acocks Green conveyancing search fees, etc). First, you should ensure that your lawyer is on the Principality conveyancing panel. Regarding the subsequent stages this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market some purchasers would apply for the mortgage with Principality and arrange for the valuation and only if it comes back ok would they ask their conveyancing practitioner to press on with the conveyancing in Acocks Green.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The conveyancers who conducted the conveyancing in Acocks Green 4 years ago are no longer around. What are my options?
Assuming the title is registered the details of your proprietorship will be retained by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, identify your house and get current copies of the property title for a small fee. If the property is Leasehold then the Land Registry will in most cases retain a certified copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
I'm refinancing my current house to a buy to let loan with Birmingham Midshires and intend to use the remaining equity towards a second house. The neighborhood we are talking about is Acocks Green. Will your conveyancers be able to act for both sets of lenders and tie in the transactions?
Do use our search tool on this page to ensure that the solicitors are approved by both banks. Having checked that they are your conveyancer should be able to connect the two conveyancing matters but you should have a chat with you solicitor and make clear your desired outcome and needs.
I am intending to rent out my leasehold apartment in Acocks Green. Conveyancing solicitor who did the purchase is retired - so can't ask her. Is permission from the freeholder required?
Your lease governs the relationship between the freeholder and you the flat owner; specifically, it will set out if subletting is prohibited, or permitted but only subject to certain conditions. The rule is that if the lease contains no expres ban or restriction, subletting is permitted. Most leases in Acocks Green do not prevent strict prohibition on subletting – such a provision would adversely affect the market value the property. Instead, there is usually a basic requirement that the owner notifies the freeholder, possibly sending a duplicate of the sublease.
Acocks Green Leasehold Conveyancing - Sample of Queries before Purchasing
This question is important as a) areas can result in problems in the building as the communal areas may begin to deteriorate where repairs are not paid for b) if the leasehold owners have a dispute with the running of the building you will want to have all the details Are any of leasehold owners in dispute over their service charge liability? The prefered form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this situation the lessees enjoy control and although a managing agent is frequently retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.