Me and my fiance are acquiring property in Chipstead. My lawyer has never been on on the bank conveyancing list. Can I still continue with my Chipstead conveyancing solicitor even though they are excluded from the mortgage company list of approved lawyers?
You must appoint a property lawyer to complete the legal work required when you take out a mortgage to purchase your home. The conveyancing practitioner will carry out all the essential legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is in place. One could appoint a Chipstead solicitor of your choosing. However, where the lawyer appointed is not a member of the mortgage company approved list additional fees will arise as separate legal representation will be need by the lender. Conveyancing panel applications can be submitted, so provided your solicitor has not in the past applied for membership they should do so.
I purchased a freehold property in Chipstead but still charged rent, why is this and what is this?
It’s unusual for properties in Chipstead and has limited impact for conveyancing in Chipstead 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 creation of fresh rentcharges post 1977.
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.
What is the optimum way to discover of the solicitor handling my conveyancing in Chipstead is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus spending £187.00 plus VAT in further legal costs.
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type ‘Chipstead’ or your preferred area and you will be presented with a number of lawyer based in Chipstead or near you.
My lawyer has informed me that defective lease insurance is necessary on my purchase. What is the level of cover for Chipstead conveyancing?
The appropriate level of defective lease indemnity insurance depends on your lender. It would differ for example between Lloyds TSB Bank and Chelsea Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.
I have decided to exercise my right to buy my property in Chipstead off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
I am selling my flat. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being problematic. The Chipstead solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been recommended by three or four local selling agents in Chipstead to locate a conveyancer on your site. Is there a financial advantage for Estate Agents to market your site over a competitor’s?
We refuse to give any commission for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ So we decided to step away from that.