My husband and I are buying a brand new apartment in Hathern and my lawyer is advising me that she is duty bound to the mortgage company to disclose incentives from the developer. I am on a tight deadline to exchange and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I own a freehold property in Hathern but still charged rent, why is this and what is this?
It’s unusual for properties in Hathern and has limited impact for conveyancing in Hathern 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 many centuries, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.
Old rentcharges can now be redeemed by making a lump sum payment under the Act. Any rentcharges that are still in existence in 2037 will be dispensed with completely.
Please explain the implications if my solicitor is suspended from the Aldermore Solicitor panel ahead of completing my conveyancing in Hathern?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Are all Hathern Conveyancing Quality Solicitors on the Yorkshire BS conveyancing panel?
A selection of banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
When it comes to mortgage companies such as Principality, do Hathern solicitors face a yearly amount to be on the list of approved solicitors?
We are not aware of any bank fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
Does a directory service exist listing Kent Reliance panel conveyancers in Hathern on the Building Society Association’s Website?
No. There is no such facility on the CML or Building Society Association websites. A small selection of lenders make their panel listings available on the web. If you are looking for a Hathern conveyancing practitioner on the Kent Reliance please make the most of our facility.
Despite weeks of looking the Title Certificate and documents to our property can not be found. The lawyers who handled the conveyancing in Hathern 4 years ago are no longer around. Will I be able to sell the house?
You no longer need to have the physical official documentation to establish that you are the registered proprietor of land or property, given that the Land Registry have everything they need in a digital format.