My husband and I are planning to acquire a home in West Barnes and have appointed a West Barnes conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Bank of Ireland have this morning contacted us to inform me that there is now an issue as our West Barnes solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred West Barnes lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I am acquiring a house without a mortgage in West Barnes. I have resided for the last dozen years in West Barnes. Conveyancing searches are expensive. As I have knowledge of the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then the vast majority of the West Barnes conveyancing searches are at your discretion. Your lawyer will ’encourage you, no-doubt strongly, that you should have searches done, but he is duty bound to take that path of advice. One thing to bear in mind; if you are intend to dispose of the house in the future, it could be of importance to your future buyer what the searches contain. Sometimes properties with apparent issues can still reveal unpredicted search results. A competent conveyancing solicitor in West Barnes should be able to give you some constructive guidance in this regard.
Finally the sale completed on my house in West Barnes last April yet the purchaser is calling every few hours to moan that their conveyancer is waiting to hear from mine. What should have happened following completion?
Following your house sale your solicitor is obliged to deliver the transfer deeds and all additional paperwork to the purchaser's lawyers. Where relevant, your conveyancer must also confirm that the legal charge in favour of the lender has been repaid to the buyers lawyers. There is unlikely to be post completion steps specific conveyancing in West Barnes.
Me and my brother purchased a 4 bedroom Victorian property in West Barnes. Conveyancing lawyer acted for me and Virgin Money. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold with the exact same property. If a house is not a freehold shouldn't I have been informed?
You should assess 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 West Barnes and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing practitioner who conducted the purchase.
I have been on the look out for a leasehold apartment up to £195,000 and found one close by in West Barnes I like with open areas and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in West Barnes suitable, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the shortness of the lease may be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this.
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