It is is a decade since I acquired my property in Hyde. Conveyancing lawyers have recently been appointed on the sale but I can't track down my deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with your lender or they may be in the possession of the lawyers who oversaw the purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Hyde involves registered property but in the unlikely event that your home is not registered it is more problematic but is resolvable.
Is it the case that all Hyde solicitor practices on the Leeds Building Society conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the SRA. Many mortgage companies do permit licenced conveyancers on their panel and in such a situation the practice would be overseen by the CLC.
I was told three weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Hyde is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have instructed a Hyde conveyancer having checked that they are on the Co-operative conveyancing panel. Does my lawyer arrange the survey of the property?
Co-operative will need an independent valuation of the property. Your lawyer will not arrange this. Usually Co-operative will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Hyde surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
How does conveyancing in Hyde differ for new build properties?
Most buyers of new build premises in Hyde come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is completed. This is because builders in Hyde usually buy 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 Hyde 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 Hyde in advance of appointing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some banks tend not give a loan on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Halifax. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Hyde. Conveyancing may be slightly more expensive based on your lender's requirements.
My conveyancers in Hyde have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a number of years?
It very much depends from lender to lender but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the mortgage company directly.