I have just been advised by my lender that my Bodelwyddan solicitor is not on the bank Conveyancing panel. How can I check?
Your first step should be to call your Bodelwyddan conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
Some advice if I may. My Bodelwyddan solicitor is assuring me that he is legally obliged toconduct Bodelwyddan conveyancing searches stemming from the fact thatthe firm are on the Santanderapproved lawyer panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a bank your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Bodelwyddan conveyancing searches.
I purchased a freehold premises in Bodelwyddan but still pay rent, why is this and what is this?
It’s unusual for properties in Bodelwyddan and has limited impact for conveyancing in Bodelwyddan 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 fresh rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 will be dispensed with completely.
Are all Bodelwyddan Conveyancing Quality Solicitors on the Clydesdale conveyancing panel?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I can not work out if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Bodelwyddan bank branch on a couple of occasions and was told they are content with the situation and they will lend. My Bodelwyddan conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the property lawyer is on the lender panel, they must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
My sealed bid on a detached house in Bodelwyddan has been agreed to, the sellers do nevertheless have a connected purchase. The sellers have put an offer on a property, however it’s not yet agreed to, and have viewings of other flats in the pipeline. I have instructed a high street conveyancing solicitor in Bodelwyddan. What do I do now? When do I get the mortgage application with Nottingham started?
It is normal to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Bodelwyddan conveyancing search fees, etc). The first thing to do is ensure that your conveyancer is on the Nottingham approved list. Regarding the next phase this very much depends on the specifics of your transaction, motivation for the property and on the state of the market. In a buoyant market the majority of buyers will apply for a home loan with Nottingham and arrange for the valuation and only if it was satisfactory would they request their solicitor to proceed with searches.
The estate agent has sent us the confirmation of our purchase of a new build flat in Bodelwyddan. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bodelwyddan
Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?