My fiance and I are looking to purchase a house in Frodsham and have instructed a Frodsham conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this afternoon contacted us to advise us that there is now an issue as our Frodsham conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for the purchaser's lender. 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 mortgage company 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 don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Frodsham solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My partner and I are purchasing a new build duplex in Frodsham and my lawyer is informing me that she is duty bound to the lender to disclose incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I would rather not delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
What is the optimum way to check that the solicitor handling my conveyancing in Frodsham is on the bank’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Barclays Direct thus spending £175.00 in further legal fees.
Please do take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type ‘Frodsham’ or your location and you will discover numerous solicitors located in Frodsham or nearest you.
I have a renovated Victorian house in Frodsham. Conveyancing solicitor represented me and Nationwide Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Frodsham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the situation with your conveyancing lawyer who conducted the conveyancing.
In what way can the Landlord & Tenant Act 1954 impact my commercial premises in Frodsham and how can your lawyers assist?
The 1954 Act affords security of tenure to commercial tenants, granting the dueness to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Frodsham