My husband and I are planning to purchase a home in Budleigh Salterton and are in fact using a Budleigh Salterton conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Bank of Ireland have this evening contacted us to advise us that there is now an issue as our Budleigh Salterton conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is standard for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Budleigh Salterton lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Last October we completed a house move in Budleigh Salterton. We have noticed several issues with the house which we believe were omitted in the conveyancing searches. Is there anything we can do? Can you clarify the nature of searches that should have been conducted for conveyancing in Budleigh Salterton?
The query is not clear as to the nature of the problems and if they are unique to conveyancing in Budleigh Salterton. Conveyancing searches and investigations undertaken as part of the buying process are carried out to help avoid problems. As part of the process, a property owner fills in a document known as a SPIF. answers provided is incorrect, you may have a misrepresentation claim against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Budleigh Salterton.
It is 10 years ago since I bought my home in Budleigh Salterton. Conveyancing solicitors have just been appointed on the sale but I am unable to track down my deeds. Is this a major issue?
Don’t worry too much. Firstly there is a possibility that the deeds will be kept by the lender or they may be in the possession of the solicitor who oversaw the purchase. Secondly in all probability the land will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers obtaining current official copies of the land registers. Nearly all conveyancing in Budleigh Salterton relates to registered property but in the unlikely event that your home is not registered it is more of a problem but is resolvable.
How does conveyancing in Budleigh Salterton differ for new build properties?
Most buyers of new build residence in Budleigh Salterton come to us having been asked by the seller to sign contracts and commit to the purchase even before the residence is ready to move into. This is because builders in Budleigh Salterton tend to buy the land, 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 accustomed to new build conveyancing in Budleigh Salterton or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Budleigh Salterton is the location of the property. Is there any advice you can give?
Flying freeholds in Budleigh Salterton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Budleigh Salterton you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Budleigh Salterton may decide 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.
In what way can the Landlord & Tenant Act 1954 impact my business offices in Budleigh Salterton and how can your lawyers assist?
The particular law that you refer to provides protection to commercial tenants, giving them the dueness to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Budleigh Salterton is one of our numerous areas of the UK in which our lawyers are based