My fiance and I are planning to purchase a house in Fareham and are in fact using a Fareham conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Chelsea Building Society have this afternoon contacted us to advise us that there is now an issue as our Fareham lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also represent the purchaser's lender. 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 solicitor 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 Fareham lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am selling our house in Fareham and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any high street Fareham lawyer would know this is not the case. It does beg the question why the buyers are using an online conveyancing outfit rather than a conveyancing solicitor in Fareham. Having lived in Fareham for 4 years we know of no issue. Should we contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
four months have gone by since my purchase conveyancing in Fareham took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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.
Over the last few months I have been searching for a flat up to £245,000 and identified one near me in Fareham I like with a park and transport links nearby, however it's only got 51 remaining years left on the lease. There is not much else in Fareham for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease will likely be an issue. Discount the price by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this matter.
I am looking into buying my first house which is in Fareham and I am already nervous. I couldn't find anything specific about Fareham. Conveyancing will be needed in due course but do you know about the Fareham area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Fareham. In the meantime here are some basic statistics that we found
I need to instruct a conveyancing practitioner in Fareham for my sale. Can I check a solicitor's complaints history with the legal regulator?
One can search for documented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator may recorded telephone calls for training reasons.