Me and my partner are buying a 2 bedroom flat in Purfleet with a mortgage. We wish to retain our Purfleet solicitor, however the lender says he's not on their "panel". We have to appoint one of the lender panel solicitors or continue with our Purfleet solicitor as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Purfleet conveyancing solicitor to apply to be on the conveyancing panel.
I own a freehold residence in Purfleet yet charged rent, why is this and what is this?
It’s unusual for properties in Purfleet and has limited impact for conveyancing in Purfleet 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of fresh rentcharges post 1977.
Old 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 extinguished.
I have just over seventy years remaining on my lease and require a lease extension for my flat in Purfleet. Conveyancing solicitors on the Tesco Bank panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 18/2/2024 the requirements read as follows :
I have recentlybecome aware that Stirling Law have closed. They conducted my conveyancing in Purfleet for a purchase of a freehold house 18 months ago. How can I check that my home is in my name in the name of the previous owner?
The quickest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Purfleet conveyancing specialists.
What is different about your site and other online quote calculators when it comes to conveyancing in Purfleet?
At this site obtain an accurate costs illustration from a Solicitor or Licensed Conveyancer that has a full understanding of the nuances for your conveyancing in Purfleet. As opposed to estate agents and brokerage sites we do not have kick-back deals with solicitors. Some agents and online brokers 'recommend' the firm paying the highest kickback, rather than the best value conveyancing in Purfleet