My partner and I are planning to purchase a home in Buckinghamshire and are in fact using a Buckinghamshire conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this afternoon contacted us to advise us that there is now an issue as our Buckinghamshire solicitor is not on their conveyancing panel. Please explain?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the mortgage company. 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 property lawyer should contact your bank 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Buckinghamshire lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
This question may be naive but I am unexperienced as a first time buyer of a garden flat in Buckinghamshire. Do I pick up the keys to the property on the completion date from my solicitor? If this is the case, I will use a High Street conveyancing solicitor in Buckinghamshire?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the purchase money to the vendor’s conveyancers, and once they have received this, you will be able to pick up the keys from the property Agents and move into your new home. Usually this happens early afternoon.
Can you point me to a directory of Aldermore panel conveyancers in Buckinghamshire on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings viewable on the web. If you are looking for a Buckinghamshire solicitor on the Aldermore please use our tool.
I recently had an offer accepted on a house in Buckinghamshire. My mortgage broker recommended their conveyancers. I paid an on account payment of £175. A couple of days later, the lawyer contacted me embarrassingly acknowledging that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
My colleague suggested that where I am purchasing in Buckinghamshire I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Buckinghamshire conveyancing searches. It is not a small document of about 40 pages, listing and detailing important information about Buckinghamshire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Buckinghamshire.
I am purchasing my first flat in Buckinghamshire with a loan from National Westminster Bank. The developers would not reduce the amount so I negotiated 6k of extras instead. The sale representative advised me not inform my lawyer about this extras as it will adversely affect my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Back In 2000, I bought a leasehold house in Buckinghamshire. Conveyancing and Bank of Scotland mortgage went though with no issue. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a ground rent demand for rent dating back to 1994. The conveyancing practitioner in Buckinghamshire who acted for me is not around. Any advice?
First contact HMLR to be sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. It is not necessary to incur the fees of a Buckinghamshire conveyancing practitioner to do this as it can be done on-line for less than a fiver. Rest assured that in any event, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Buckinghamshire Leasehold Conveyancing - Sample of Questions you should ask Prior to buying
The answer will be important as a) areas could result in problems for the building as the common areas may begin to deteriorate if repairs remain unpaid b) if the leasehold owners have an issue with the running of the building you will want to have all the details The best form of lease arrangement is a share of the freehold. In this scenario the tenants have being in charge if their destiny and notwithstanding that a managing agent is often retained where the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Be sure to investigate if there are any onerous restrictions in the lease. By way of example it is very common in Buckinghamshire leases that pets are not permitted in certain buildings in Buckinghamshire. If you love the flatin Buckinghamshire however your cat can’t live with you then you will be presented with a hard compromise.