My wife and I own a 4 bedroom Victorian property in Newbury. Conveyancing practitioner acted for me and Barnsley Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You should 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 Newbury and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing solicitor who conducted the conveyancing.
How does conveyancing in Newbury differ for newly converted properties?
Most buyers of new build or newly converted property in Newbury approach us having been asked by the seller to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Newbury 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 conveyancers 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 Newbury or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Newbury is the location of the property. Is there any guidance you can impart?
Flying freeholds in Newbury are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Newbury you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newbury 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 residence.
Is it possible to swap firm as I need to instruct one who is on the The Mortgage Works conveyancing panel. I hired a local conveyancing solicitor in Newbury five minutes from me but she is not approved by The Mortgage Works
We will our best to assist in finding you a conveyancing solicitor in Newbury on the The Mortgage Works panel. Please note that the property lawyers that we on the directory do not pay us fee if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Newbury. Using the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Newbury.
My husband and I are 18 days into a leasehold purchase having been recommend to a firm by the high street agent to execute conveyancing in Newbury. I am am starting to be disappointed with the level of service. Can you you assist me in finding new conveyancers?
A lawyer would have to be really poor to suggest changing them. Has your mortgage been issued? If so you must inform them of the replacement conveyancer and get the loan are re-sent. Your new solicitor ideally needs to be on the lenders approved list to avoid added charges and delays. So that should be your starting point. Our find a solicitor tool should assist you in finding a bank approved lawyer for your conveyancing in Newbury
I am just shy of a 10% deposit on my flat purchase in Newbury , but I am keen proceed. What can I do?
You can accept a lesser deposit. Many property owners will agree to a lesser deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute