My wife and I purchased a renovated Edwardian house in Heacham. Conveyancing solicitor represented me and HSBC Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, the second leasehold with the matching property. Is it worth asking HSBC Bank to clarify?
You need to read 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 Heacham and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing practitioner who carried out the work.
How does conveyancing in Heacham differ for newly converted properties?
Most buyers of new build property in Heacham approach us having been asked by the seller to sign contracts and commit to the purchase even before the property is built. This is because developers in Heacham 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 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 Heacham or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Heacham prior to appointing solicitors. I have been told that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may refuse to grant a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Heacham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Heacham to see if the conveyancing costs will increase in light of this.
Do I need to be wary by 3rd parties that I am dealing with are suggesting an internet conveyancing firm as opposed to a local Heacham conveyancing practice?
As is the case with many service providers, often input from connections can be extremely useful or valuable. But there are many players in a conveyancing transaction; estate agents, financial adviser and mortgage companies may suggest lawyers to choose. On occasion the solicitors might be known to one of the organisations as experts in their field, but occasionally there exists a financial incentive behind the recommendation. You have the discretion to select your preferred lawyer. You need to be aware that many lenders have an approved list of solicitors you have to use for the lender aspect of your home move.
My father-in-law has urged me to appoint his conveyancers in Heacham. Should I use them?
Much as we are happy to recommend a Heacham conveyancing lawyer it’s preferable to find a conveyancing lawyer is to have referrals from friends or family who have used the firm that you are considering.