Unfortunately I am unable to travel far from Easthampstead. Is there a reason why all Easthampstead lawyers aren't automatically on all mortgage company panels?
Lenders ordinarily restrict either the nature or volume of conveyancing practices on their approved list of lawyers. Frequent examples of such restriction(s) being that the organisation needs to have at least two partners. In addition to restricting the type of firm, some lenders decided to reduce the number of firms they use to represent them. You should note that building societies have no accountability for the accuracy of advice given by any Easthampstead lawyer on their approved list. Increases in mortgage fraud was the key driver in the rationalisation of conveyancing panels a few years ago notwithstanding that there are differing views concerning the extent of solicitor involvement in some of that fraud. Statistics published by HMLR exposes that thousands of law organisations only transact less than three conveyances a year. Those supporting conveyancing panel culls question why conveyancing firms deserve the right to be on a bank panel when clearly property law is not their primary expertise?
Is there a search tool that I can use to find out if the solicitor handling my conveyancing in Easthampstead is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nottingham Building Society thus spending £192.00 in further legal costs.
You should make the most of the search tool on this web page. Pick the lender and type ‘Easthampstead’ or your preferred area and you will discover numerous conveyancers located in Easthampstead or near you.
I have been told that property searches are the number one reason for stalling in Easthampstead conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of slowing down conveyancing in Easthampstead.
How does conveyancing in Easthampstead differ for newly converted properties?
Most buyers of new build residence in Easthampstead approach us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Easthampstead usually 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 used to new build conveyancing in Easthampstead or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Easthampstead ahead of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor has said that some mortgage companies may refuse to issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. If you e-mail us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Easthampstead. Conveyancing may be slightly more expensive based on your lender's requirements.
My wife and I purchased a leasehold house in Easthampstead. Conveyancing and Leeds Building Society mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing solicitor in Easthampstead who acted for me is not around. What should I do?
First make enquiries of the Land Registry to be sure that this person is in fact the registered owner of the freehold reversion. It is not necessary to instruct a Easthampstead conveyancing practitioner to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Leasehold Conveyancing in Easthampstead - A selection of Questions you should consider before Purchasing
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Best to be warned whether window replacement or some other major work is coming up that will be shared amongst the leaseholders and may well dramatically increase the the service charges or result in a one off invoice. The answer will be helpful as a) areas can cause problems in the building as the communal areas may begin to deteriorate if services are not paid for b) if the leaseholders have an issue with the running of the building you will want to know about it It would be sensible to find out as much as you can regarding the managing agents as they will either make life much easier or a lot more difficult. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical matters such as the tidiness of the common parts. Ask other tenants what they think of their management. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money.