I am hoping to receive a mortgage with Nat West. My intention is to instruct a Licensed Conveyancer in Piccadilly. Does the Nat West Solicitor panel include Licensed Conveyancers?

The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.

I own a freehold residence in Piccadilly but still pay rent, why is this and what is this?

It is rare for properties in Piccadilly and has limited impact for conveyancing in Piccadilly 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 hundreds of years, but the Rent Charge Act 1977 barred the establishment of new rentcharges post 1977.

Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.

If you had a top tip for choosing a conveyancing solicitor in Piccadilly what would it be?

It would be unwise to be swayed by the lowest Piccadilly conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.

I have a mortgage with Clydesdale for my property in Piccadilly. Conveyancing was finalised months 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 Clydesdale?

Clydesdale must be informed of your intention in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies 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 Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel firm.

After weeks of negotiation I have agreed a price on a house in Piccadilly. My financial adviser recommended their conveyancers. I paid an on account payment of £200. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?

You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.

Just bought a terraced house in Piccadilly , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Piccadilly conveyancing solicitor has been very slow, so I want to be sure the post completion formalities are dealt with.

There is nothing unique when it comes to conveyancing in Piccadilly registration formalities. As opposed to being determined by geographic area, timeframes can adjust depending on who lodges the application, whether it is in order and whether the Land registry communicate with any third parties. Currently in the region of three quarters of such applications are fully dealt with in less than three weeks but some can be subject to extensive delays. Registration takes place after the purchaser is living at the property so registration formalities is not usually primary concern but where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for the application to be prioritised.

How does conveyancing in Piccadilly differ for new build properties?

Most buyers of new build residence in Piccadilly approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Piccadilly usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Piccadilly or who has acted in the same development.