Am I correct in assuming that the fact that my solicitor in Bourne is not on my lender's solicitor panel that there is a problem with the standard of his work?
That would most likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Bourne conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to execute the mortgage deed? If so, I will instruct a firm who offer conveyancing in Bourne so that I can attend their offices when needed.
Whereas this was necessary 15 years ago, most banks no longer need their conveyancing panel lawyer to witness the mortgagors signature. You will still be obliged to provide identification documents and there are still manifest benefits to using a locally based practitioner, in your case a conveyancing solicitor in Bourne.
It has been five months following my purchase conveyancing in Bourne concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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 property 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 house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Bourne is where the house is located. Can you offer any opinion?
Flying freeholds in Bourne are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bourne you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bourne 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.
I'm refinancing my current home to a buy to let loan with National Westminster Bank and intend to use the remaining equity as a down payment on another property. The area we are looking at is Bourne. Will your lawyers be able to act for both sets of banks and link together the transactions?
Do use our comparison tool on this site to be sure that the conveyancers are on the relevant lender panels. Having checked that they are your conveyancer should be able to simultaneously deal with the two transactions but you should talk with you lawyer and specify your expectations and needs.
Back In 2006, I bought a leasehold flat in Bourne. Conveyancing and Santander mortgage went though with no issue. A letter has just been received from someone claiming to own the freehold. It included a ground rent demand for rent dating back to 1995. The conveyancing practitioner in Bourne who previously acted has long since retired. Any advice?
First make enquiries of HMLR to be sure that this person is indeed the new freeholder. You do not need to instruct a Bourne conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 no more than 6 years of rent can be collected.
Leasehold Conveyancing in Bourne - Examples of Questions you should ask before Purchasing
-
You should be aware if it is less than 80 years it will affect the marketability of the property. Check with your bank that they are willing to lend given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth discovering how much this will be. For most Bournelease extensions you would be be obliged to have owned the residence for two years before you are legally able to extend the lease. It would be a good idea to enquire if there are any onerous restrictions in the lease. For instance it is very common in Bourne leases that pets are not permitted in certain buildings in Bourne. If you like the propertyin Bourne however your dog is not allowed to live with you then you have a very hard choice. The answer will be helpful as a) areas may cause problems in the block as the common areas may start to deteriorate where services are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to have complete disclosure