Unfortunately I am unable to travel far from Petworth. I would like to know the reason why all Petworth conveyancing practitioners aren't automatically on all bank panels?

Banks tend to impose restrictions on either the type or the number of conveyancing solicitors on their approved list of lawyers. A common example of such restriction(s) being that the firm must have at least two partners. As well as restricting the type of firm, some have made a decision to limit the size of their panel they permit to act for them. You should note that lenders have no accountability for the standard of advice given by any Petworth conveyancer on their approved list. Mortgage fraud was the key driver in the culling of solicitor panels from 2008 notwithstanding that there are differing assessments about the extent of solicitor involvement in some of that fraud. Data from HM Land Registry indicates that thousands of law practices only carry out one or two conveyances annually. Those vindicating conveyancing panel cuts ask why conveyancing firms should have the right to be on a lender panel when it is evident that property law is not their primary expertise?

We are purchasing a detached bungalow in Petworth. The intention is to an extension at the rear at the property.Will legal conveyancing on the property involve investigations to ascertain if these alterations are permitted?

Your solicitor should review the registered title as conveyancing in Petworth can sometimes identify restrictions in the title documents which restrict categories of changes or require the permission of another owner. Some works call for local authority planning consent and approval in compliance with building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor before you commit yourself to a purchase.

My solicitor has informed me that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Petworth?

The appropriate level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Accord Mortgages Ltd and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to members of the public take out such policies.

The formalities of my purchase has taken place for my property in Petworth. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?

Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.

A friend advised me that where I am buying in Petworth I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is sometimes quoted for as part of the standard Petworth conveyancing searches. It is not a small document of about 40 pages, listing and setting out significant information about Petworth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Petworth Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful data concerning Petworth.

I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Petworth is where the house is located. What do you suggest?

Flying freeholds in Petworth are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Petworth you would need to get your solicitor to go 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 Petworth 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.

In relation to leasehold conveyancing in Petworth what are the most common lease defects?

Leasehold conveyancing in Petworth is not unique. Most leases are unique and drafting errors can result in certain sections are not included. The following missing provisions could result in a defective lease:

Service charge per centages that don't add up correctly leaving a shortfall A provision for the recovery of money spent for the benefit of another party.

A defective lease will likely cause problems when trying to sell a property as they can affect a potential buyer’s ability to obtain a mortgage. Birmingham Midshires, Coventry Building Society, and Nottingham Building Society all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.

Leasehold Conveyancing in Petworth - Sample of Questions you should ask Prior to Purchasing

How much is the ground rent and service charge? How many years are left on the lease?