Am I correct in assuming that the fact that my conveyancer in Winslow is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of the firm’s work?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Winslow conveyancing practice and enquire why they are no longer on the approved list for your bank.
I own a freehold house in Winslow yet invoiced for rent, why is this and what is this?
It is rare for properties in Winslow and has limited impact for conveyancing in Winslow 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 generation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
I have paid off my mortgage with Aldermore. I assume I don't need a Winslow conveyancer on the Aldermore panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I currently have a mortgage with Nationwide for my property in Winslow. Conveyancing has been completed some time ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
Nationwide must be informed of your intention prior to renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel firm.
Completion of my remortgage has taken place for my property in Winslow. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
A relative advised me that if I am purchasing in Winslow I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually included in the estimate for your Winslow conveyancing searches. It is not a small report of more than thirty pages, listing and setting out significant information about Winslow around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Winslow.
I've found a house that appears to meet my requirements, at a great price which is making it all the more appealing. I have just found out that the title is leasehold as opposed to freehold. I am assuming that there are issues buying a leasehold house in Winslow. Conveyancing lawyers have are soon to be instructed. Will they explain the issues?
The majority of houses in Winslow are freehold and not leasehold. This is one of the situations where having a local conveyancer who is familiar with the area who can help the conveyancing process. It is clear that you are purchasing in Winslow so you should seriously consider shopping around for a Winslow conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. Being a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’spermission to conduct alterations. It may be necessary to pay a maintenance charge towards the maintenance of the estate where the house is located on an estate. Your solicitor should report to you on the legal implications.
Leasehold Conveyancing in Winslow - Examples of Queries Prior to buying
Many Winslow leasehold apartments will be liable to pay a service charge for the upkeep of the block levied on behalf of the freeholder. Where you acquire the apartment you will have to meet this amount, usually quarterly throughout the year. This may vary from several hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge for you to pay annual, this is usually not a large sum, say around £50-£100 but you should to enquire it because sometimes it could be many hundreds of pounds. Who takes responsibility for maintaining and repairing the block? Be sure to discover if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being permitted in in a block in Winslow. If you like the flatin Winslow however your dog is not allowed to move with you then you have a very hard choice.