My partner and I are planning to acquire a flat in Thatcham and are in fact using a Thatcham conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Birmingham Midshires have this evening contacted us to advise us that there is now an issue as our Thatcham lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard 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 Accreditation 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Thatcham lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I know that there are debates on Chancel Insurance on online forums. Do I require this when acquiring a house in Thatcham? or Apparently there is a law dating back centuries that means some house owners living in a parish church boundary may be liable to contribute towards repairs to the chancel in proximity to the church. Is this relevant for conveyancing in Thatcham?
Unless a previous purchase of the premises completed after 12 October 2013 you could assume that solicitors handling conveyancing in Thatcham to continue to propose a a chancel search and or chancel repair liability policy.
I'm purchasing a new build house in Thatcham with a loan from The Mortgage Works. The builders would not move on the price so I negotiated 6k of extras instead. The sale representative suggested that I not inform my solicitor about this deal as it would jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I need to retain a conveyancing solicitor for leasehold conveyancing in Thatcham. I happened to land on a web site which appears to be the ideal solution If there is a chance to get all this stuff done via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
My mother and father are encountering problems in finding their Thatcham property on the HM Land Registry online search facility. They recall that back in the 60’s when they bought the property there were complications with Thatcham not being recognised in some systems.
The vast majority of premises in Thatcham should be revealed. Have you attempted a search with simply the postcode. Ordinarily it should disclose all the properties inside the postcode. Where recorded it will be there with a title number. If they bought sixty years ago it's conceivable it may be not yet registered. The address may still be revealed but with the title number shown 'na'. In this scenario you will need to locate the original title deeds which may be with your parent’s mortgage company.