The Pitstone conveyancing firm that I recently instructed on my house acquisition in Pitstone have suddenly shut down. I only went with them because I needed a lawyer on the Bank of Ireland conveyancing panel and my preferred Pitstone lawyer was not. I issued them a cheque for £250 in advance. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Bank of Ireland conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
I am being told by my lawyer that breach of easement insurance is necessary on my purchase. What is the level of cover for Pitstone conveyancing?
The right level of breach of easement indemnity insurance depends on who your lender is. It would differ for example between National Westminster Bank and The Royal Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such insurances.
Is it the case that all Pitstone CQS (Conveyancing Quality Scheme) solicitors are on the HSBC conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
We previously chose conveyancers located in Pitstone on the Barclays solicitor panel. They have just billed me a separate amount for dealing with the Barclays mortgage. Is this a supplemental conveyancing fee set by Barclays?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. The charge is not dictated by Barclays but by your Pitstone solicitor. Some firms on the Barclays panel will levy ’dealing with mortgage’ fee but plenty of firms incorporate it on their overall fee.
I own a terraced Georgian house in Pitstone. Conveyancing lawyer represented me and Leeds Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the exact same property. I thought I was buying a freehold how can I check?
You should 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 proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Pitstone 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 buyers. You can also question the situation with your conveyancing practitioner who conducted the conveyancing.
How does conveyancing in Pitstone differ for newly converted properties?
Most buyers of new build or newly converted property in Pitstone approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Pitstone usually buy 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 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 Pitstone or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a property in Pitstone before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies will refuse to give a loan on such a home.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. If you e-mail us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Pitstone. Conveyancing will be smoother if you use a solicitor in Pitstone especially if they are acquainted with such properties in Pitstone.
New build sellers have put forward a property lawyer and I've obtained a quote from them. It's almost £250 cheaper than my family Pitstone lawyer. What's the catch?
Housebuilders frequently have lists of conveyancing practitioners who are quick and who know the builder's paperwork and solicitor. As many developers offer an incentive to choose their approved lawyer for this reason, any increased cost can be avoided and a builder won't suggest a conveyancing warehouse and run the risk of having the conveyancing delayed when they require an exchange within a tight time frame. The argument for not agreeing to use the suggested lawyer is that they may be hesitant to fight for your interests for fear of alienating the sellers. Where you have concerns that this may be the situation you should stick with your local Pitstone conveyancing practitioner.