Is the fact that my conveyancer in Wolsingham is not listed on my lender's conveyancing panel that there is a problem with the quality of his conveyancing?
That is more than likely a wrong assumption to make. There are all sorts of perfectly reasonable 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. If you are concerned you should contact the Wolsingham conveyancing firm and ask them why they are no longer on the approved list for your bank.
I purchased a freehold house in Wolsingham but still invoiced for rent, why is this and what is this?
It is rare for properties in Wolsingham and has limited impact for conveyancing in Wolsingham 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 post 1977.
Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
About to place an offer on a leasehold flat in Wolsingham. The estate agents assure me that it is the norm for flats in Wolsingham to have less than 75 years unexpired on the lease. I am getting a loan with Accord Mortgages. Will the property be mortgageable given that the lease has Seventy One years left.
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. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 10/9/2021 the requirements read as follows :
Due to the guidance of my in-laws I had a survey completed on a house in Wolsingham before retaining solicitors. I have been advised that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to grant a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. If you contact us we can investigate further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wolsingham. Conveyancing may be slightly more expensive based on your lender's requirements.
My cousin has suggested that I use his lawyers for conveyancing in Wolsingham. Should I use them?
No doubt it’s preferable to find a conveyancing lawyer is to get referrals from friends or family who have actually experience in using the solicitor that you are are thinking of instructing.