Have completed on a a semi-detached house in Lees and Moorside , What is the estimated time for the Land Registry to deal with the formalities evidencing my proprietorship? My Lees and Moorside conveyancing solicitor has been painfully slow, so I want to be sure that my ownership is registered.
As far as conveyancing in Lees and Moorside registration is no faster or slower than anywhere else in England and Wales. Rather than based on location, timescales can adjust according to the party submitting the application, whether there are errors and if the Land registry have to notify any other persons or bodies. At present roughly 80% of such applications are fully dealt with within 12 days but occasionally there can be protracted delays. Registration takes place once the purchaser is living at the premises thus 'speed' is not typically an essential issue but where it is urgent that the the registration takes place urgently then you or your solicitor should communicate with the Registry to express the reasoning for an expedited registration.
How does conveyancing in Lees and Moorside differ for new build properties?
Most buyers of new build or newly converted property in Lees and Moorside contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is ready to move into. This is because developers in Lees and Moorside tend to buy the real estate, 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 Lees and Moorside or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Lees and Moorside is the location of the property. Can you offer any guidance?
Flying freeholds in Lees and Moorside are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lees and Moorside you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lees and Moorside may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Should I be suspicious that third parties that I am dealing with are recommending a national conveyancing firm rather than a High Street Lees and Moorside conveyancing company?
As with lots of service providers, often recommendations from relatives can be most helpful. Yet there are many people with a keen interest in a conveyancing deal; estate agents, mortgage brokers and lenders might all recommend conveyancers to instruct. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the right to select your own conveyancer. However, bear in mind that many lenders specify a panel list of solicitors you have to use for the mortgage related work in your conveyancing.
My step-son is about to join the property ladder, the home loan was agreed last week in principle. When the seller agreed the offer on the house we rang the lender to progress the mortgage application. We were disappointed to discover that banks do not accept all solicitor, they need to be on their approved list, is this correct?
Lenders tend to imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Lees and Moorside conveyancer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.