Me and my fiance are purchasing a 2 bedroom flat in Keswick with a mortgage. We like our Keswick solicitor, however the mortgage company advise she’s not on their "panel". We have to appoint one of the bank panel solicitors or continue with our Keswick conveyancer as well as pay for one of their panel lawyers to act for them. This feels very unfair; are we not able to demand that the bank use our Keswick conveyancer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Keswick conveyancing solicitor to apply to be on the conveyancing panel.
The Keswick conveyancing firm handling our Keswick conveyancing has spotted an inconsistency when comparing the information in the home valuation survey and what is revealed within the legal papers for the property. My solicitor has advised that he needs to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I purchased a freehold premises in Keswick but still charged rent, why is this and what is this?
It is rare for properties in Keswick and has limited impact for conveyancing in Keswick 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 from 1977 onwards.
Previous 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 extinguished.
How does conveyancing in Keswick differ for newly converted properties?
Most buyers of new build or newly converted property in Keswick contact us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because builders in Keswick usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Keswick or who has acted in the same development.
I am looking into buying my first house which is in Keswick and I am already nervous. I couldn't find anything specific about Keswick. Conveyancing will be needed in due course but do you know about the Keswick area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Keswick. In the meantime here are some basic statistics that we found