I am hoping to receive a mortgage with Lloyds. I would like to enlist the help of a Licensed Conveyancer in Anston. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My conveyancer has discovered a a legal deficiency with the lease for the property we are purchasing in Anston. The seller’s lawyers have suggested defective title insurance as a solution. We are happy with insurance and will pay for it. Our lawyer has advised that he must check that the mortgage company is content with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
I own a freehold house in Anston yet charged rent, why is this and what is this?
It’s unusual for properties in Anston and has limited impact for conveyancing in Anston 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 hundreds of years, but the Rent Charge Act 1977 barred the generation of new rentcharges from 1977 onwards.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be dispensed with completely.
Is it possible to switch firm as I need to instruct a firm on the The Mortgage Works conveyancing panel. I instructed a high street conveyancing solicitor in Anston five minutes from me but she is not approved by The Mortgage Works
It would be our pleasure to help you select a conveyancing solicitor in Anston on the The Mortgage Works panel. Please note that the property lawyers that we work with do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Anston. In utilising the find a conveyancing solicitor tool on this site, you can compare charges for conveyancing solicitors in Anston and throughout England and Wales.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have since been informed that the title is leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Anston. Conveyancing advisers have not yet been appointed. Will they explain the issues?
Most houses in Anston are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. We note that you are buying in Anston so you should seriously consider looking for a Anston conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a leaseholder you will not be at liberty to do whatever you want with the house. The lease comes with conditions such as requiring the freeholder’spermission to carry out changes to the property. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your conveyancer should advise you fully on all the issues.