My partner and I are planning to buy a house in Liphook and have appointed a Liphook conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. National Westminster Bank have this afternoon contacted us to advise us that there is now an issue as our Liphook solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 lender 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 and you may continue to use your own Liphook solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Can conveyancing in Liphook to be concluded in under 3 weeks?
In a situation where the seller is applying a tight deadline for your conveyancing it is advisable to make sure that your conveyancer is familiar with the area as they will have local contacts and knowledge. It is even conceivable that they may have conducted otherhomes in the same road. Therefore consider using a Liphook conveyancing firm. In addition, ensure that the conveyancing firm is on the member panel. It is said that nearly one in five of Liphook conveyancing transactions are delayed or jeopardised after discovering a purchaser’s conveyancer was not on their mortgage lender’s panel. This can often result in the conveyancing being frustrated by almost three weeks. It is claimed that this issue impacts approximately one hundred thousand home sales annually. Most Liphook conveyancing firms can not represent certain mortgage companies so do check at the outset.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The lawyers who handled the conveyancing in Liphook 4 years ago are no longer around. Will I be able to sell the house?
Assuming you have a registered title the information relating to your proprietorship will be documented by HMLR under a Title Number. It is possible to carry out a search at the Land Registry, identify your property and order current copies of the property title for a small fee. If the title is Leasehold then the Land Registry will also normally hold a file copy of the Registered Lease and again, a copy can be obtained for twenty pounds.
How does conveyancing in Liphook differ for new build properties?
Most buyers of new build premises in Liphook come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is built. This is because builders in Liphook typically buy the site, 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 used to new build conveyancing in Liphook or who has acted in the same development.
I opted to have a survey done on a house in Liphook in advance of instructing lawyers. 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 property.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Liphook. Conveyancing will be smoother if you use a solicitor in Liphook especially if they are acquainted with such properties in Liphook.
My company is wishing to take an assignment of a lease of an office on a shopping parade. Can you recommend conveyancers offering fixed charges for commercial conveyancing in Liphook for less than 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Liphook, including the disposal and purchase of businesses as well as simply property. Whether you are intending to acquire or lease a shop, pub, restaurant, office, retail unit or a whole business we will put you in touch with the right solicitor. As for the charges this will depend on the structure and terms of the deal. Let us have your details or call us so that we may supply you with comprehensive commercial conveyancing calculation.