My partner and I are looking to acquire a home in Axminster and have appointed a Axminster conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Halifax have this morning contacted us to inform me that they have now hit a problem as our Axminster lawyer is not on their conveyancing panel. Please explain?

Where you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. 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 Accreditation Scheme. Your solicitor should contact your mortgage company 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Axminster lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.

Are you able to suggest a The Mortgage Works approved Axminster conveyancing practice that can complete within under 3 weeks? Would it be better to use a local Axminster firm or an online firm?

We would be happy to suggest some excellent Axminster conveyancing firms. You can also walk up the main road in Axminster. Go in to two or three law practices and ask to see a conveyancing solicitor for a fee estimate. Mention your deadline together with your reasons and get a commitment on your deadline. Select the lawyer that genuine.

How does conveyancing in Axminster differ for newly converted properties?

Most buyers of new build property in Axminster contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is constructed. This is because house builders in Axminster tend to purchase 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 Axminster or who has acted in the same development.

Due to the guidance of my in-laws I had a survey completed on a house in Axminster in advance of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor has said that some mortgage companies will refuse to grant a mortgage on a flying freehold property.

It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Axminster. Conveyancing will be smoother if you use a solicitor in Axminster especially if they regularly deal with such properties in Axminster.

I today plan to offer on a house that seems to tick a lot of boxes, at a great price which is making it more attractive. I have since been informed that it's a leasehold as opposed to freehold. I would have thought that there are issues buying a house with a leasehold title in Axminster. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Axminster ?

The majority of houses in Axminster are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Axminster so you should seriously consider shopping around for a Axminster conveyancing practitioner and be sure that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is part of an estate. Your solicitor will advise you fully on all the issues.

Leasehold Conveyancing in Axminster - Sample of Queries before Purchasing

The prefered form of lease structure is a share of the freehold. In this scenario the tenants benefit from being in charge if their destiny and notwithstanding that a managing agent is often employed if it is larger than a house conversion, the managing agent acts for the leaseholders themselves. The majority of Axminster leasehold properties will have a service charge for the upkeep of the building invoiced by the landlord. If you acquire the property you will have to pay this liability, normally periodically during the year. This may differ from several hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a ground rent to be met annual, this is usually not a exorbitant figure, say around £25-£75 but you need to check as on occasion it could be prohibitively expensive.