Much to our surprise we have been notified by our estate agent that my Beaminster property lawyer is not on the mortgage company Conveyancing panel. What can I do to check?
The best course of action for you to take is to contact your Beaminster conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may recommend you to a Beaminster conveyancing firm that is on the approved list of lawyers for your mortgage company.
Is it possible for conveyancing in Beaminster to be finalised within 3 weeks?
In the event that the seller is applying pressure for your conveyancing it is highly recommended that your conveyancer is familiar with the area as they will have local contacts and knowledge. It is possible that they could have handled previoushouses in the same street. Therefore consider using a Beaminster conveyancing solicitor. Second, make sure that the conveyancing firm is on the on the approved list for your mortgage company. It is estimated that nearly one in five of Beaminster conveyancing deals are suspended or jeopardised after finding out that a buyer’s conveyancer was not on their banks list of approved solicitors. This can often result in the transaction being frustrated by almost three weeks. It is said that this issue impacts in the region of one hundred thousand home sales annually. Most Beaminster conveyancing firms can not act for certain banks so do check at the outset.
My flat in Beaminster is up for sale and I have a purchaser. Will the property lawyer need to be on the Santander conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Santander conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who handled the conveyancing in Beaminster 10 years ago are no longer around. What are my options?
You no longer need to hold title official documentation to evidence that you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
I am buying a new build flat in Beaminster. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Beaminster
-
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I am employed by a reputable estate agency in Beaminster where we see a number of flat sales derailed as a result of short leases. I have received inconsistent advice from local Beaminster conveyancing firms. Could you shed some light as to whether the vendor of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or simultaneously with completion of the sale.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Beaminster Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
-
Are any of leasehold owners in arrears of their service charge payments? What is the service charge and ground rent on the property? Please inform me if there are any major works in the near future that could increase the maintenance costs?