I am hoping to receive a mortgage offer from Lloyds. I would like to employ the services of a Licensed Conveyancer in Locks Heath. Does the Lloyds Conveyancing panel exclude Licensed Conveyancers?

The Lloyds approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.

My husband and I are buying a newly constructed apartment in Locks Heath and my conveyancer is informing me that she is duty bound to the bank to reveal incentives from the builder. The Estate Agents are hassling me to sign contracts and I would rather not delay matters. Is my lawyer right?

You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. 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 Locks Heath yet invoiced for rent, why is this and what is this?

It is rare for properties in Locks Heath and has limited impact for conveyancing in Locks Heath 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 have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.

Can I be sure that the Locks Heath conveyancing solicitor on the Principality panel is any good?

When it comes to conveyancing in Locks Heath getting recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor conducting your transaction.

I was told three weeks ago that my mortgage has been agreed to by RBS. Is it usual for RBS to only issue the offer once my solicitor in Locks Heath is approved on their conveyancing panel? RBS have asked my solicitor to see a copy of their PI Insurance.

A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.

My offer on a house in Locks Heath has been accepted, but there is a chain. The sellers have put an offer on a property, however it’s not yet tied up, and have viewings of other apartments booked. I have chosen a bricks and mortar conveyancing solicitor in Locks Heath. What do I do now? When should I get the mortgage application with Leeds Building Society started?

It is understandable to have anxieties where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is approx £1k, then valuation, Locks Heath conveyancing search costs, etc). First, you should check that your solicitor is on the Leeds Building Society approved list. Regarding the next stages this very much depends on the uniqueness of your transaction, motivation for the property and on the state of the market. In a hot market some buyers will apply for a home loan with Leeds Building Society and arrange for the valuation and only if it comes back ok would they pay their solicitor to proceed with searches.

Over the last few months I have been searching for a flat up to £195,000 and found one near me in Locks Heath I like with a park and transport links in the vicinity, however it's only got 49 years on the lease. There is not much else in Locks Heath in this price bracket, so just wondered if I would be making a grave error buying a short lease?

If you require a mortgage that many years may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.