I am mortgaging my flat in Garstang, does my lawyer need to be on the TSB Solicitor panel?

In theory, you could use a solicitor that is not on the TSB conveyancing panel, but TSB would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.

Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when acquiring a residence in Garstang?

Unless a previous acquisition of the property took place after 12 October 2013 you could take it that lawyers carrying out conveyancing in Garstang to continue to propose a a chancel search and or insurance against a claim.

My wife and I purchased a renovated Edwardian house in Garstang. Conveyancing solicitor represented me and Leeds Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold under the exact same property. I thought I was buying a freehold how can I check?

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 Garstang 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 your conveyancing lawyer who conducted the conveyancing.

How does conveyancing in Garstang differ for new build properties?

Most buyers of new build premises in Garstang 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 developers in Garstang tend to purchase 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 accustomed to new build conveyancing in Garstang or who has acted in the same development.

What makes a Garstang lease unmortgageable?

Leasehold conveyancing in Garstang is not unique. All leases are individual and drafting errors can result in certain provisions are missing. The following missing provisions could result in a defective lease:

Clauses dealing with recovering service charges for expenditure on the building or common parts. A provision to repair to or maintain elements of the property

A defective lease will likely cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Barclays , Chelsea Building Society, and Aldermore all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the purchaser to pull out.

Garstang Leasehold Conveyancing - A selection of Queries Prior to Purchasing

It would be sensible to investigate if there are any onerous restrictions in the lease. For instance some leases prohibit pets being permitted in in a block in Garstang. If you love the propertyin Garstang yet your cat can’t make the move with you then you will be presented with a hard decision. Best to be warned whether changing the roof or some other significant cost is pending that will be shared amongst the tenants and will materially impact the level of the service costs or require a specific invoice. Is the freehold reversion owned collectively by the tenants?