I am considering applying for a HSBC mortgage for purchase of a new build (under development) in Chulmleigh with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for HSBC ?

In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC 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.

How does conveyancing in Chulmleigh differ for new build properties?

Most buyers of new build premises in Chulmleigh approach us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is constructed. This is because house builders in Chulmleigh 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 property lawyers 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 Chulmleigh 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 Chulmleigh prior to appointing lawyers. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks may refuse to issue a loan on a flying freehold property.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Nationwide. If you e-mail us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Chulmleigh. Conveyancing will be smoother if you use a solicitor in Chulmleigh especially if they are acquainted with such properties in Chulmleigh.

How simple is it to use your search app to locate a conveyancing practitioner in Chulmleigh on the approved list for my mortgage?

1st choose a lender such as Nationwide Building Society, Coventry Building Society or TSB then specify your preferred area e.g. Chulmleigh. Conveyancing organisations in Chulmleigh and beyond should be listed.

Can you offer any advice when it comes to choosing a Chulmleigh conveyancing practice to carry out our lease extension conveyancing?

If you are instructing a solicitor for lease extension works (regardless if they are a Chulmleigh conveyancing firm) it is essential 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 Chulmleigh conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions might be useful:

What are the costs for lease extension work? If the firm is not ALEP accredited then what is the reason?

Chulmleigh Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing

For most Chulmleigh leaseholds the outlay for major works tend not to be included within service charges, although some managing agents in Chulmleigh obliged leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for major works. How many of the leaseholders are in arrears for their maintenance charge payments? It would be prudent to enquire if there is anything that is prohibited in the lease. For instance it is fairly common in Chulmleigh leases that pets are not permitted in in a block in Chulmleigh. If you like the flatin Chulmleigh but your cat is not allowed to make the move with you then you have a very hard decision.