My fiance and I are hoping to acquire a house in Longridge and are in fact using a Longridge 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. TSB have this afternoon contacted us to inform me that there is now an issue as our Longridge conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property with the assistance of a mortgage it is usual 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Longridge solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
As someone clueless as to conveyancing in Longridge what’s the number one tip you can impart concerning the legal transfer of property in Longridge
Not many law firms shout this from the rooftops but conveyancing in Longridge or throughout Lancashire is often a confrontational experience. In other words, when it comes to conveyancing there is plenty of opportunity for friction between you and others involved in the transaction. For instance, the seller, estate agent and on occasion your lender. Appointing a law firm for your conveyancing in Longridge an important selection as your conveyancer is your adviser, and is the ONE party in the transaction whose role it is to look after your best interests and to keep you safe.
There is a worrying increase of a "blame" culture- someone has to be at fault for the process being so protracted. You should always trust your lawyer ahead of the other players in the conveyancing process.
Me and my brother purchased a terraced Edwardian property in Longridge. Conveyancing solicitor represented me and Alliance & Leicester . I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Longridge and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing lawyer who carried out the work.
How does conveyancing in Longridge differ for new build properties?
Most buyers of new build residence in Longridge approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is constructed. This is because builders in Longridge typically acquire the land, 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 conveyancing solicitors 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 Longridge or who has acted in the same development.
I'm converting the mortgage on my existing property to a BTL loan with Aldermore and I will use the ballance of the raised equity as a deposit on further house. The area we are talking about is Longridge. Will your lawyers be able to act for the two mortgage companies and tie in the conveyances?
Make use of our search tool on this page to ensure that the lawyers are approved by both banks. Having checked that they are the solicitor will be able to simultaneously deal with the two conveyancing matters but you should talk with you lawyer and specify your desired outcome and needs.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable price which is making it all the more appealing. I have since been informed that it's a leasehold rather than freehold. I would have thought that there are issues purchasing a house with a leasehold title in Longridge. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
Most houses in Longridge are freehold rather than leasehold. In this scenario it’s worth having a local conveyancer used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Longridge so you should seriously consider looking for a Longridge conveyancing solicitor and be sure that they are used to advising on leasehold houses. First you will need to check the unexpired lease term. As a lessee you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the freeholder’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the estate where the property is located on an estate. Your lawyer will advise you fully on all the issues.
Longridge Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying
What prohibitions are contained in the Longridge Lease? How much is the ground rent and service charge? Is anyone aware of any major works anticipated that will likely increase the service fees?