The Axmouth and Branscombe conveyancing lawyers that I recently instructed on my house acquisition in Axmouth and Branscombe have suddenly closed. They were on acting for me because I had to have a lawyer on the Bank of Ireland conveyancing panel and my preferred Axmouth and Branscombe lawyer was not. I paid them funds on account. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to the problems encountered. 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 should be in a position to help.
How does conveyancing in Axmouth and Branscombe differ for newly converted properties?
Most buyers of new build premises in Axmouth and Branscombe contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is completed. This is because developers in Axmouth and Branscombe tend to acquire the site, 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 used to new build conveyancing in Axmouth and Branscombe or who has acted in the same development.
I opted to have a survey done on a house in Axmouth and Branscombe prior to appointing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks may refuse to grant a mortgage on such a property.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Axmouth and Branscombe. Conveyancing may be slightly more expensive based on your lender's requirements.
My step-father has encouraged me to instruct his lawyers for conveyancing in Axmouth and Branscombe. Should I use them?
Much as we are happy to recommend a Axmouth and Branscombe conveyancing lawyer the best way to select a conveyancing solicitor is to seek feedback from friends or relatives who have previously instructed the solicitor that you are considering.
What are your top tips when it comes to choosing a Axmouth and Branscombe conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a property lawyer for lease extension works (regardless if they are a Axmouth and Branscombe conveyancing firm) it is most important that they be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with several firms including non Axmouth and Branscombe conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be useful:
Can they put you in touch with clients in Axmouth and Branscombe who can give a testimonial? What are the charges for lease extension conveyancing?
Axmouth and Branscombe Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
It is important to be aware if redecorating or some other major work is anticipated to be shared amongst the leaseholders and will materially impact the level of the service charges or require a specific invoice. What is the maintenance charge and ground rent on the apartment? Make sure you enquire if there are any onerous prohibitions in the lease. For example it is reasonably common in Axmouth and Branscombe leases that pets are not permitted in in a block in Axmouth and Branscombe. If you like the flatin Axmouth and Branscombe yet your cat is not allowed to live with you then you have a very hard decision.