Some advice if I may. My March lawyer is advising me that she is duty bound toapply for March conveyancing searches resulting from the fact thatthe firm are on the Lloydsconveyancing panel. These March searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out March conveyancing searches.
Completed the sale of my flat in March last July yet the purchaser is whats apping me to moan that their solicitor needs to hear from mine. What are the post completion sale formalities now that I have sold?
After completion of your house sale your solicitor is obliged to deliver the transfer documentation and all of the paperwork to the buyer’s solicitors. If applicable, your lawyer must also confirm that the legal charge in favour of the lender has been redeemed to the purchasers conveyancers. There is unlikely to be post completion formalities just for conveyancing in March.
Should our solicitor be asking questions regarding flooding during the conveyancing in March.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in March. There are those who acquire a house in March, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a number of searches that can be carried out by the purchaser or on a buyer’s behalf which will figure out the risks in March. The standard completed inquiry forms given to a buyer’s lawyer (where the Conveyancing Protocol is adopted) incorporates a standard question of the vendor to find out if the property has suffered from flooding. In the event that the property has been flooded in past and is not notified by the owner, then a purchaser could commence a legal claim for losses as a result of such an incorrect answer. The buyer’s solicitors may also carry out an environmental report. This should disclose whether there is a recorded flood risk. If so, further investigations should be made.
How does conveyancing in March differ for newly converted properties?
Most buyers of new build premises in March come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the residence is finished. This is because builders in March usually acquire 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 March or who has acted in the same development.
Due to the guidance of my in-laws I had a survey completed on a house in March ahead of retaining lawyers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some lenders tend refuse to issue a mortgage on this type of premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. If you call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in March. Conveyancing may be slightly more expensive based on your lender's requirements.
I am thinking of appointing a conveyancing lawyer in March for my house move. Can I see a firm’s record with the legal regulator?
One can see published Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. To find information Pre 2008, or to check a firm's history, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA may monitor telephone calls for training purposes.