I plan on purchasing a leasehold flat in Allenton. My Conveyancer is not on the mortgage company conveyancing list. Can I still use my Allenton conveyancing solicitor even though they are not on the mortgage company panel of approved conveyancing solicitors?
Your options include
- Complete the purchase with your preferred Allenton solicitor but your mortgage company will need to instruct a conveyancing practitioner on their conveyancing panel. The net result is additional cost together with potential frustration.
- Appoint a new solicitor to conduct the conveyancing, obviously checking they are on the bank conveyancing panel.
- Appeal to your property lawyer to attempt to join the bank panel
I am the registered owner of a freehold premises in Allenton yet charged rent, why is this and what is this?
It is rare for properties in Allenton and has limited impact for conveyancing in Allenton 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 generation of fresh rentcharges post 1977.
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 extinguished.
When it comes to lenders such as Kent Reliance, do Allenton conveyancers face a fee to be on the list of approved solicitors?
We are not aware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Bank of Ireland panel solicitors in Allenton on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings open the public on the web. If you are in need of a Allenton lawyer on the Bank of Ireland please use our facility.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Allenton building society branch on numerous occasions and was told it wasn't a problem and they would lend. My Allenton conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their published requirements. I simply don't know who is right.
Provided that the solicitor is on the mortgage company approved list, they must adhere to the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I'm buying my first flat in Allenton with a mortgage from Accord Mortgages Ltd. The builders refused to reduce the price so I negotiated £7000 of additionals instead. The sale representative told me not inform my lawyer about this extras as it will impact my mortgage with Accord Mortgages Ltd. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In my capacity as executor for the will of my aunt I am disposing of a residence in Monmouth but live in Allenton. My lawyer (who is 260 miles awayhas requested that I sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Allenton who can witness and place their company stamp on the document?
Technically speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will be fine regardless of whether they are Allenton based