Is the fact that my conveyancer in Okehampton is not on my bank's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That would most likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Okehampton conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Me and my wife are buying our first property. The conveyancer has texted usto see if we want to take out supplemental conveyancing searches. Unfortunately we have no idea as to what's appropriate for conveyancing in Okehampton
The type of Okehampton conveyancing searches depends primarily on the premises, the location, the probability of any of these risks, your familiarity of the locality and risks, your overall attitude to risk. What matters is that you adequately understand what information the searches could provide. Then you can decide if you personally think you need that information. Should you be unclear, ask the lawyer to guide you.
I have an AIP. The lender mentioned the loan came with free conveyancing. Is the implication that I have to instruct their panel lawyer as I would prefer to appoint a Okehampton based conveyancing firm?
You should check but the chances are that appoint one of their panel conveyancers should you accept the "fee-free" offer. Call the lender to explore if they make available a monetary alternative. In the past a few lenders offered a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor near Okehampton.
Me and my brother have a terraced Georgian house in Okehampton. Conveyancing solicitor represented me and Nottingham 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, the second leasehold with the matching address. Is it worth asking Nottingham Building Society to clarify?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Okehampton and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing lawyer who conducted the conveyancing.
I have been on the look out for a ground for flat up to £235,500 and found one near me in Okehampton I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. I can't really find anything else in Okehampton for this price, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan that many years will likely be a potential deal breaker. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.
My step-father has urged me to instruct his conveyancing solicitors in Okehampton. Should I choose my own solicitor?
Much as we are happy to recommend a Okehampton conveyancing lawyer it’s preferable to select a conveyancing lawyer is to seek feedback from friends or relatives who have actually experience in using the solicitor you're are thinking of instructing.