We wanted to use a conveyancing solicitor in Peak District for our home move. Our broker informed us that our mortgage company Platform Home Loans Ltd won't deal with them. Surely this is unfair competition?
Banks in the main imposes restrictions either the type or the amount of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the type of firm, some have decided to limit the amount of firms they use to act for them. Be aware that Platform Home Loans Ltd have no responsibility for the quality of advice provided by any member of Platform Home Loans Ltd Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there remains mixed views about the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms, including some in or near Peak District only execute one or two conveyances a year.
Will my lawyer be making enquiries regarding flooding as part of the conveyancing in Peak District.
Flooding is a growing risk for solicitors dealing with homes in Peak District. There are those who purchase a house in Peak District, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a number of checks that may be undertaken by the buyer or by their lawyers which should give them a better appreciation of the risks in Peak District. The conventional set of property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the owner to find out if the property has suffered from flooding. If flooding has previously occurred which is not revealed by the vendor, then a purchaser may issue a legal claim for losses stemming from an incorrect response. The buyer’s solicitors should also conduct an environmental report. This should higlight whether there is any known flood risk. If so, more detailed inquiries will need to be conducted.
How does conveyancing in Peak District differ for new build properties?
Most buyers of new build premises in Peak District approach us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is constructed. This is because new home sellers in Peak District tend to acquire 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 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 Peak District or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Peak District is where the house is located. Can you offer any assistance?
Flying freeholds in Peak District are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Peak District you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Peak District 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.
What does commercial conveyancing in Peak District cover?
Peak District conveyancing for business premises covers a broad range of guidance, provided by qualified solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.