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Find a Magor Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Magor? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Magor home move at risk of delay or failure.

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Recently asked questions about conveyancing in Magor

I am in the process of selling my home in Magor and the EA has just telephoned to advise that the buyers are changing their law firm. The excuse is that the bank will only engage with property lawyers on their approved list. Why would a big named lender only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Magor ?

Banks have always had panels of law firms they are willing to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.

Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any sway in the decision.

Me and my brother purchased a terraced Victorian property in Magor. Conveyancing practitioner acted for me and Barclays . I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??

You need to review the Freehold register you have again and check the Charges Register as there may be 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 Magor and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with your conveyancing practitioner who conducted the purchase.

I am looking into buying my first house which is in Magor and I am already nervous. I couldn't find anything specific about Magor. Conveyancing will be needed in due course but do you know about the Magor area? or perhaps some other tips you can share?

Rather than looking online forget looking online you should go and have a look at Magor. In the meantime here are some basic statistics that we found

I am hoping to put an offer on a small detached house that appears to be perfect, at a great price which is making it more attractive. I have just discovered that it's a leasehold as opposed to freehold. I am assuming that there are issues purchasing a leasehold house in Magor. Conveyancing advisers have are soon to be instructed. Will they explain the issues?

The majority of houses in Magor are freehold rather than leasehold. This is one of the situations where having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are purchasing in Magor in which case you should be looking for a Magor conveyancing solicitor and be sure that they are used to transacting on leasehold houses. First you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example obtaining the landlord’spermission to conduct alterations. You may also be required to pay a maintenance charge towards the maintenance of the communal areas where the property is part of an estate. Your conveyancer should appraise you on the various issues.

Magor Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying

    The best form of lease arrangement is a share of the freehold. In this situation the lessees enjoy control and even though a managing agent is often retained if it is bigger than a house conversion, the managing agent is directed by the tenants. For most Magor leaseholds the outlay for major works tend not to be included within maintenance charges, albeit that there some managing agents in Magor require tenants to contribute towards a sinking fund and this is used to offset against major repairs or maintenance.

I am unfit to be present at my Magor conveyancing lawyers office to execute documents connected to my conveyancing in Magor – will this be an issue?

No. Magor conveyancing lawyers can deal with home moves for clients nationally. You are unlikely to be required to meet your lawyer in the flesh at a Magor conveyancers office. They can handle all communications remotely from their Magor office.

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Find out more about how flying freehold can affect your the value of a property.