We note that you have a post code search directory listing law firms on the Leeds Building Society conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Maxton?
We are a listing service only for law firms wishing to communicate if they are on the Leeds Building Society conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Maxton.
Will our conveyancer be raising enquiries regarding flooding as part of the conveyancing in Maxton.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Maxton. There are those who purchase a house in Maxton, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, but there are a various checks that may be carried out by the buyer or on a buyer’s behalf which should give them a better appreciation of the risks in Maxton. The standard information given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to determine whether the premises has ever been flooded. In the event that flooding has previously occurred and is not disclosed by the seller, then a purchaser may issue a claim for damages as a result of such an incorrect reply. A buyer’s lawyers should also commission an environmental report. This should indicate if there is a recorded flood risk. If so, additional investigations should be conducted.
How does conveyancing in Maxton differ for new build properties?
Most buyers of new build or newly converted property in Maxton come to us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is completed. This is because house builders in Maxton typically purchase 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 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 Maxton or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Maxton is where the house is located. Is there any guidance you can impart?
Flying freeholds in Maxton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Maxton you must be sure that your lawyer goes 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 Maxton may decide 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 premises.
I have just appointed agents to market my 2 bed apartment in Maxton. Conveyancing solicitors are to be appointed soon, but I have just had a quarterly maintenance charge invoice – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as usual because all rents and service charges will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Maxton - Sample of Questions you should ask Prior to Purchasing
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Are there any major works in the planning that will increase the service charges? How long is the Lease? The best form of lease structure is if the freehold reversion is in the ownership of the leaseholders. In this arrangement the tenants have being in charge if their destiny and although a managing agent is usually employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves.
My partner and I are buying a ground floor flat in Maxton. At the time of instructing our conveyancing practitioner, they said that they were on all mainstream mortgage company panels. The mortgage broker emailed today to advise that they don't appear to be on the Virgin Money approved list. Should that be true, what should we do? Do we just pick a different conveyancing practitioner that is on their approved list or do we pay for dual representation, with Virgin Money appointing their own preferred conveyancer.
When purchasing a property with mortgage finance it is usual for the purchaser’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the lawyer has to satisfy. Some lenders now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should call Virgin Money 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 Virgin Money's conveyancing panel and you may continue to use your own Maxton solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another conveyancer into the mix.