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Find a Newbury Park Conveyancing Solictior on Your Lender’s Panel

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

Only LenderPanel.com provides a subset of authorised Newbury Park conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Newbury Park

Am I correct in assuming that the fact that my conveyancer in Newbury Park is not identified on my bank's solicitor panel that there is a problem with the quality of his work?

It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Newbury Park conveyancing practice and ask them why they are no longer on the approved list for your lender.

I have paid off my mortgage with Leeds Building Society. I assume I don't need a Newbury Park property lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Am I right?

If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

  1. but are not moving to another property
  2. where Leeds Building Society has sent the Land Registry the discharge electronically, and
  3. Leeds Building Society has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Leeds Building Society mortgage has been paid off.

I am selling my apartment. I had a double glazing fitted in July 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Clydesdale are being difficult. The Newbury Park solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?

It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.

At last I have had an offer on an apartment in Newbury Park accepted, but there is a chain. The sellers have offered on a property, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have chosen a local conveyancing solicitor in Newbury Park. What should be my next step? When do I get the mortgage application with Aldermore going?

It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Newbury Park conveyancing search fees, etc). The first thing to do is check that your property lawyer is on the Aldermore conveyancing panel. As to the subsequent phase this very much dictated by the uniqueness of your transaction, attraction to this property and on the state of the market. During a rising market some buyers would apply for the mortgage with Aldermore and arrange for the valuation and only if it was satisfactory would they request their lawyer to press on with searches.

I have been told that property searches are a common reason for obstruction in Newbury Park conveyancing transactions. Is there any truth in this?

The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Searches are not likely to be the root cause of delay in conveyancing in Newbury Park.

Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a quick, no chain conveyancing. Newbury Park is where the house is located. Is there any guidance you can give?

Flying freeholds in Newbury Park are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newbury Park you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newbury Park may determine 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 residence.

I own a leasehold flat in Newbury Park. Conveyancing was finalised in 21012. I have been told that I mustn’t allow the lease length get too short. What is the reasoning?

Newbury Park leasehold properties are for a set period - often just under one hundred years when they started. However many appartments in Newbury Park were built or converted 30 or more years ago and so such leases now have fewer than eighty years left to run. That may seem like a long time however Banks, Building Societies and other mortgage lenders generally need leases to have at least 75 years remaining to be mortgageable. Accordingly when you come to sell the property you will need to extend the term of your lease if you are approaching seventy five years. To enhance the marketability of your property you should be considering whether to extend your lease long before you come to sell it. Furthermore advantages to doing so before the lease hits eighty years as when the lease falls below 80 years the amount you have to pay to extend starts to get a lot more expensive.

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