I can't travel far from Bearsted. What is the rationale as to why all Bearsted conveyancing practitioners aren't included on all bank panels?
Before the recession most lenders had an approach to risk which is different from today. The Financial Services Authority in 2010 instigated a thematic review into property fraud which concluded: know the conveyancers on your panel. Consequently, lenders have subsequently requiredmore information from law firms about their processes and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Many firms have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum volume of transactions the lenders set.
I own a 4 bedroom Victorian property in Bearsted. Conveyancing lawyer represented me and Virgin Money. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching address. I'd like to know for sure, how can I find out??
You need to 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bearsted and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing solicitor who completed the work.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Bearsted is where the house is located. What do you suggest?
Flying freeholds in Bearsted are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bearsted you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bearsted may ascertain 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 property.
What does commercial conveyancing in Bearsted cover?
Non domestic conveyancing in Bearsted covers a wide array of advice, given by regulated solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My wife and I recently found out that one of the partners of the law firm handling the purchase conveyancing in Bearsted is an aunty of the vendor. Is this permitted?
On the basis that there is no conflict of interest this is permitted. Where you are requiring a mortgage then the lender may have a say as many lenders have specific instructions on this. For example for Bradford & Bingley as of 2/5/2024, the requirements read as follows :