As a novice what is the most important advice you can impart concerning purchase conveyancing in Colerne?
You may not hear this from too many lawyers but conveyancing in Colerne and elsewhere in Wiltshire is often a confrontational process. Put another way, when it comes to conveyancing there is plenty of room for conflict between you and other parties involved in the ownership transfer. E.g., the vendor, property agent and on occasion your lender. Selecting a solicitor for your conveyancing in Colerne should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to protect your legal interests and to protect you.
There is a distinct emergence of a "blame" culture- someone must be blamed for the process being so protracted. You your first instinct should be to trust your lawyer above the other players when it comes to the legal transfer of property.
I had intended to instruct a property lawyer in Colerne for our house move. Our broker informed us that our mortgage lenders Accord Mortgages Ltd won't deal with them. Why is this not regarded as unfair competition?
Before the recession most lenders had an appetite for risk which was higher than today. Almost all Colerne conveyancing firms would have been on many bank panels. The financial services regulator in 2010 carried out a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms about their operations and their employees as well as establishing certain criteria such a completing on a minimum volume of transactions. Many Colerne conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Colerne is one of the hundreds of locations where the lawyers showing on our search results are are approved Accord Mortgages Ltd.
My wife and I purchasing a victorian detached house in Colerne. We would like to an extension at the rear at the house.Will the conveyancing process include enquiries to see if these works are allowed?
Your property lawyer should review the deeds as conveyancing in Colerne will on occasion identify restrictions in the title deeds which restrict categories of alterations or need the permission of another owner. Certain additions need local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
I have paid off my mortgage with TSB. I assume I don't need a Colerne conveyancing practitioner on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
After what feels like an age I have had an offer on a maisonette in Colerne agreed to, but there is a chain. The owners have placed an offer on somewhere, however it’s not yet tied up, and have viewings of other apartments booked. I have instructed a local conveyancing solicitor in Colerne. What should be my next step? When do I get the mortgage application with Co-operative going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then valuation, Colerne conveyancing search costs, etc). First, you should check that your conveyancer is on the Co-operative conveyancing panel. Regarding the subsequent stages this very much depends on the circumstances of your case, motivation for the property and on the state of the market. During a hot market some home buyers will apply for the mortgage with Co-operative and pay for the valuation and only if it was satisfactory would they request their conveyancer to press on with searches.
How does conveyancing in Colerne differ for new build properties?
Most buyers of new build residence in Colerne approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Colerne tend to purchase 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 conveyancers 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 accustomed to new build conveyancing in Colerne or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Colerne is the location of the property. Can you shed any light on this issue?
Flying freeholds in Colerne are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Colerne you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colerne may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My brother has encouraged me to instruct his conveyancing solicitors in Colerne. Should I choose my own solicitor?
There are no two ways about it it’s preferable to find a conveyancing practitioner is to seek referrals from friends or family who have previously instructed the firm you're contemplating using.