Please help. My Great Ayton solicitor is assuring me that she is duty bound toapply for Great Ayton conveyancing searches asthe firm are on the HSBCsolicitor panel. Is this really necessary?
You have limited options available to you. Given that you are taking out a loan with a lender your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Great Ayton conveyancing searches.
The Great Ayton conveyancing firm that I recently instructed on my house acquisition in Great Ayton have suddenly closed. They were on acting for me because I needed a lawyer on the Skipton conveyancing panel and my preferred Great Ayton lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will 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 Skipton 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 lawyers should be in a position to assist.
I purchased a 4 bedroom Edwardian house in Great Ayton. Conveyancing practitioner acted for me and HSBC Bank. I did a free Land Registry search last week and there are two entries: one for freehold, the second leasehold under the exact same address. 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Great Ayton and other locations in 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 lenders. You can also enquire as to the position with your conveyancing lawyer who carried out the work.
How does conveyancing in Great Ayton differ for new build properties?
Most buyers of new build premises in Great Ayton contact us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Great Ayton typically acquire 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 used to new build conveyancing in Great Ayton or who has acted in the same development.
Due to the input of my in-laws I had a survey completed on a house in Great Ayton in advance of appointing lawyers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some banks may not issue a loan on such a premises.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Great Ayton. Conveyancing may be slightly more expensive based on your lender's requirements.