Me and my partner are buying a 3 bedroom flat in Lymington with a mortgage. We like our Lymington solicitor, but the bank says she’s not on their "panel". It seems we have little choice but to appoint one of the mortgage company panel solicitors or retain our Lymington solicitor as well as pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Lymington conveyancing solicitor to apply to be on the conveyancing panel.
Will my conveyancer be asking questions regarding flooding during the conveyancing in Lymington.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Lymington. Some people will acquire a house in Lymington, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, but there are a various searches that may be undertaken by the purchaser or by their solicitors which can figure out the risks in Lymington. The conventional set of property information forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the vendor to find out if the property has historically flooded. If the residence has been flooded in past and is not notified by the vendor, then a buyer could issue a claim for damages as a result of such an inaccurate answer. A buyer’s solicitors should also carry out an environmental search. This should indicate whether there is a recorded flood risk. If so, more detailed investigations should be initiated.
The deeds to my home can not be found. The lawyers who dealt with the conveyancing in Lymington 10 years ago no longer exist. What are my options?
Nowadays there are copies made of almost everything, and your solicitor will be aware exactly where to find all the suitable paperwork so you may buy or sell your house without a hitch. Where duplicates are not available, your lawyer may be able to put in place insurance or indemnities against possible claims on your premises.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Lymington is where the house is located. Can you shed any light on this issue?
Flying freeholds in Lymington are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lymington you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lymington may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Is it simple use the search tool to find a conveyancing solicitor in Lymington on the panel for my mortgage?
First pick a lender such as HSBC Bank, Skipton Building Society or Nottingham Building Society then type in your preferred area such as Lymington. Conveyancing practices in Lymington and further afield should be identified.
I am on look out for some leasehold conveyancing in Lymington. Before I set the wheels in motion I require certainty as to the remaining lease term.
If the lease is recorded at the land registry - and 99.9% are in Lymington - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Lymington Leasehold Conveyancing - Sample of Queries Prior to buying
The majority of Lymington leasehold flats will be liable to pay a service bill for the upkeep of the block set by the landlord. Where you buy the property you will have to meet this contribution, normally quarterly accross the year. This could vary from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. In all probability there will be a ground rent for you to pay yearly, ordinarily this is not a large sum, say about £50-£100 but you need to enquire it because on occasion it can be surprisingly expensive. Best to be warned whether redecorating or some other significant cost is due in the near future that will be shared amongst the leaseholders and may well materially increase the the maintenance charges or necessitate a one time payment. What is the maintenance charge and ground rent on the property?