Please help. My Ferndown solicitor is advising me that she is duty bound toorder Ferndown conveyancing searches becausethe firm are on the Lloydsconveyancing panel. Do I not have any options here?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Ferndown conveyancing searches.
It is 10 years ago since I purchased my property in Ferndown. Conveyancing lawyers have recently been instructed on the sale but I can't track down my deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly the deeds may be retained by your lender or they may stored with the solicitor who acted in the purchase. Secondly in most cases the title will be registered at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers acquiring up to date copy of the land registers. The vast majority of conveyancing in Ferndown involves registered property but in the rare situation where your property is not registered it adds to the complexity but is resolvable.
I have a semi-detached Georgian house in Ferndown. Conveyancing practitioner represented me and Bank of Scotland. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the matching property. Is it worth asking Bank of Scotland to clarify?
You need to assess 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ferndown and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing lawyer who conducted the work.
The estate agent has sent us the confirmation of our purchase of a new build flat in Ferndown. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ferndown
-
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
Am I better off to go with a Ferndown conveyancing practitioner based in the location that I am hoping to buy? An old friend can handle the conveyancing however they are based over three hundred miles drive away.
The primary upside of using a high street Ferndown conveyancing firm is that you can visit the firm to execute paperwork, deliver your identification documents and pester them if necessary. They will also have local insight which is a plus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were happy that must surpass using an unknown Ferndown conveyancing lawyer solely due to them being round the corner.
Can you provide any top tips for leasehold conveyancing in Ferndown from the point of view of speeding up the sale process?
- Much of the frustration in leasehold conveyancing in Ferndown can be reduced if you instruct lawyers as soon as your agents start advertising the property and ask them to put together the leasehold information needed by the purchasers’ solicitors. If you are supposed to have a share in the freehold, you should ensure that you are holding the original share document. Arranging a duplicate share certificate is often a time consuming formality and slows down many a Ferndown home move. If a reissued share certificate is needed, do contact the company director and secretary or managing agents (if relevant) for this sooner rather than later. Some Ferndown leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain financial (bank) and professional references. Any bank reference should make it clear that the buyer is able to meet the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the buyers or their lawyers. If you have carried out any alterations to the premises would they have required Landlord’s approval? In particular have you laid down wooden flooring? Most leases in Ferndown state that internal structural changes or laying down wooden flooring require a licence from the Landlord approving such works. Where you fail to have the paperwork in place do not contact the landlord without checking with your conveyancer in the first instance.
Ferndown Conveyancing for Leasehold Flats - Examples of Questions you should ask before Purchasing
-
Are there any major works in the near future that will add a premium to the service fees? How many years remain on the lease? The majority of Ferndown leasehold properties will be liable to pay a service bill for maintenance of the building levied by the landlord. If you buy the apartment you will have to pay this liability, normally in instalments during the year. This could be anything from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal grounds. There will also be a rentcharge to be met yearly, this is usually not a large amount, say around £25-£75 but you should to enquire it because sometimes it can be many hundreds of pounds.