We wanted to use a conveyancing solicitor in Hungerford for our house move. Our financial adviser has since notified us that our mortgage company Leeds Building Society won't deal with them. Surely this is unduly restrictive?
Lenders in the main restrict either the category or the number of conveyancing practices on their member panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the type of firm, some have limited the number of firms they allow to act for them. You should note that Leeds Building Society have no responsibility for the quality of advice provided by any member of Leeds Building Society Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there are mixed opinions about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that hundreds of law firms, including some in or near Hungerford only conduct a couple conveyances per annum.
Various online forums that I have frequented warn that are the primary reason for hinderance in Hungerford conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any holding up conveyancing in Hungerford.
The estate agent has sent us the confirmation of our purchase of a new build flat in Hungerford. Conveyancing is necessary evil 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 few leasehold new build questions that you should expect your new-build leasehold conveyancing in Hungerford
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Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Over the last few months I have been searching for a ground for flat up to £245,000 and found one close by in Hungerford I like with a park and railway links in the vicinity, however it's only got 51 remaining years left on the lease. There is not much else in Hungerford for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
Is it simple use the search app to locate a conveyancing lawyer in Hungerford on the approved list for my bank?
First pick a lender such as Santander, Chelsea Building Society or Alliance & Leicester then type in your location a common one being Hungerford. Conveyancing practices in Hungerford and further afield should be shown.
How much experience do your Hungerford conveyancing solicitors have with Help To Buy, Shared Equity and similar schemes?
Hungerford conveyancing lawyers help thousands of people move home every year and helped plenty of clients through the Help To Buy scheme. The chances are that whatever makes your case unique Hungerford conveyancers have worked on recent similar cases.