Why do I have to pay up front for conveyancing in Lyddington?

If you are buying a property in Lyddington your solicitor will request that you put them with funds to cover the the cost of the conveyancing searches. Ordinarily this is needed to cover the fees of the Local Authority Search. When the down payment is payable against the sale price then this will be asked for immediately before exchange of contracts. The final balance that is needed will be payable shortly before completion.

My wife and I are purchasing a flat in Lyddington. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit funds into their account. What is the protection we have from them run away with our deposit?

Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.

I am the single recipient of my late grandmother’s estate and I have everything in my name now, including the house in Lyddington. The Lyddington property was put into my name in October. I plan to dispose of the house. I do know about the CML six month 'rule', meaning my property ownership may be treated the same way as though I had purchased the house in October. Is the property unsalable for six months?

The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Some mortgage companies would take a pragmatic view as this clause chiefly exists to pick up on subsales or the flipping of properties.

We are getting the release of further funds on our home loan from Leeds Building Society as we want to conduct a loft conversion to our house in Lyddington. Do we need to choose a nearby Lyddington solicitor on the Leeds Building Society conveyancing panel to deal with the legals?

Leeds Building Society do not ordinarily instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.

I acquired my flat on 13 November and my personal details are still not on the land registry website. Any reason for this? My conveyancing solicitor in Lyddington advises it should be registered in a couple of weeks. Are properties in Lyddington uniquely lengthy to register?

As far as conveyancing in Lyddington registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry must send notices to any 3rd parties. Currently roughly three quarters of such applications are completed in less than three weeks but some can be subject to extensive delays. Historically registration occurs once the buyer has moved in to the premises thus registration formalities is not usually an essential issue but if there is a degree of urgency associated with the registration then you or your lawyers must communicate with the Registry to express the reasoning for the application to be prioritised.

My brother has suggested that I instruct his conveyancers in Lyddington. Should I use them?

Much as we are happy to recommend a Lyddington conveyancing lawyer the ideal way to select a conveyancing solicitor is to get feedback from friends or family who have actually used the conveyancer you're considering.

I work for a busy estate agency in Lyddington where we have witnessed a few leasehold sales jeopardised as a result of short leases. I have been given contradictory information from local Lyddington conveyancing firms. Please can you confirm whether the owner of a flat can instigate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the sale.

An alternative approach is to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Lyddington Leasehold Conveyancing - Examples of Questions you should ask before Purchasing

Can you inform me if there are any major works on the horizon that could add a premium to the service charges? The answer will be important as a) areas may cause problems in the block as the common areas may start to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the running of the building you will want to have full disclosure Who are the managing agents?