My husband and I are planning to purchase a property in Fordingbridge and have appointed a Fordingbridge conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Chelsea Building Society have this evening contacted us to advise us that there is now an issue as our Fordingbridge conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors 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 property lawyer should contact your bank 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Fordingbridge solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Do the Building Society Association intend to launch a online directory to list firms on the Loughborough BS conveyancing panel for instance in Fordingbridge?
We have not been informed any intention on the part of the BSA to promote such a search facility.
Me and my brother purchased a 4 bedroom Edwardian property in Fordingbridge. Conveyancing solicitor represented me and Coventry Building Society. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, the second leasehold under the matching property. I thought I was buying a freehold how can I check?
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 Fordingbridge and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with the conveyancing practitioner who conducted the purchase.
How does conveyancing in Fordingbridge differ for newly converted properties?
Most buyers of new build or newly converted property in Fordingbridge contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is built. This is because house builders in Fordingbridge typically buy the real estate, 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 property lawyers 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 Fordingbridge or who has acted in the same development.
In my capacity as executor for the estate of my grandmother I am disposing of a residence in Newport but live in Fordingbridge. My solicitor (who is 300 kilometers awayneeds me to sign a statutory declaration prior to completion. Can you recommend a conveyancing solicitor in Fordingbridge to witness and place their company stamp on the document?
Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are based in Fordingbridge
I only have Fifty years left on my flat in Fordingbridge. I now wish to extend my lease but my freeholder is missing. What should I do?
If you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you have made all reasonable attempts to find the landlord. On the whole a specialist should be useful to conduct investigations and to produce an expert document to be accepted by the court as proof that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s disappearance and the vesting order request to the County Court overseeing Fordingbridge.
Fordingbridge Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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This information is important as a) areas may cause problems for the block as the communal areas may begin to deteriorate if maintenance remain unpaid b) if the tenants have an issue with the running of the building you will wish to have full disclosure What is the yearly maintenance fee and ground rent? On the whole the outlay for major works are not built into the maintenance charges, although a few managing agents in Fordingbridge obliged leasehold owners to contribute towards a sinking fund created for the specific intention of establishing a fund for larger works.