My fiance and I are purchasing a ground floor flat in Colchester. My property lawyer is not on the lender conveyancing list. Am I still permitted to continue with my Colchester conveyancing solicitor notwithstanding that they are excluded from the bank list of approved lawyers?
One must have a conveyancing practitioner to deal with the legal work required when you require a loan to buy your property. The conveyancer will carry out all the appropriate due diligence on the property, ensuring that you will be properly registered as the owner and ensure that all the required mortgage paperwork is in order. One can select a Colchester solicitor of your choosing. However, if the conveyancer selected is not a member of the mortgage company approved list supplemental costs will be levied as separate legal representation will be required by them. Conveyancing panel applications can be submitted, so provided your conveyancer has not historically sought membership they should do so.
I have been told that property searches are the primary reason for delay in Colchester conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances during the legal transfer of property. Local searches are unlikely to be the root cause of holding up conveyancing in Colchester.
I own a renovated Victorian house in Colchester. Conveyancing practitioner acted for me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold under the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Colchester and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what should have been a simple, no chain conveyancing. Colchester is where the house is located. Is there any guidance you can give?
Flying freeholds in Colchester are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Colchester you must be sure that your lawyer goes 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 Colchester 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 residence.
Is there anything unique about your site and alternative web based conveyancing solicitors for conveyancing in Colchester?
At this site get a fixed fee quote via a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Colchester. Unlike many estate agents and many comparison sites we do not charge firms a fee if you select them for your home move in Colchester
I have recently had an offer accepted on a leasehold flat in Colchester and the broker that we are using suggested his property lawyer. She quoted a thousand pounds plus VAT and 3rd party costs. Does this sound like a good deal?
You should not rely on 1 quote. You should obtain like-for-like quotes for your conveyancing in Colchester. Then choose one that you trust and crucially, is on the approved panel of the bank that you have applied for a mortgage from.