It has come to my attention via my IFA that my Bacup the law firm I have appointed is not on the mortgage company Solicitor panel. How can I be sure if this is correct?
You need to call your Bacup lawyer directly. You lawyer should notify you of the situation. Where they are not on the panel they may recommend you to a Bacup conveyancing firm that is on the approved list of lawyers for your bank.
The property market in Bacup is heating up. What can I do to hasten the buying process?
First, If you are under time constraints to sign contracts it is advisable to make sure that your conveyancer is familiar with the area as they will have local relationships and intelligence. It is possible that they may have handled previoushouses in the same street. You would be best advised to use a Bacup conveyancing firm. In addition, make sure that the conveyancing firm is on the lender panel. It is estimated that nearly one in five of Bacup conveyancing deals are held up or derailed after discovering a buyer’s solicitor was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being held up by an average of three weeks. It is estimated that this issue affects in the region of one hundred thousand home sales annually. Almost all Bacup conveyancing practices can not act for certain banks so do check as early as possible.
We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel solicitor as I would much rather appoint a specialised conveyancing solicitor in Bacup?
You should check but the chances are that give you one of their panel solicitors where you want the "fee-free" deal. Call the bank and explore if they offer you a cash alternative. Some mortgage companies have previously offered a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor near Bacup.
It has been three months following my purchase conveyancing in Bacup took place. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Bacup is the location of the property. What do you suggest?
Flying freeholds in Bacup are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bacup you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bacup may determine 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 premises.
In what way does the Landlord & Tenant Act 1954 impact my business property in Bacup and how can you help?
The particular law that you refer to gives a safeguard to business tenants, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Bacup