My fiance and I are hoping to acquire a house in Queensferry and are in fact using a Queensferry conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Chelsea Building Society have this evening contacted us to inform me that they have now hit a problem as our Queensferry solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Queensferry lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Will commercial conveyancing searches reveal planned roadworks that may impact a commercial estate in Queensferry?
Many commercial conveyancing solicitors in Queensferry will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Queensferry. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Queensferry.
For each commercial conveyancing transaction in Queensferry it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could cause delays to Queensferry commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Queensferry.
How does conveyancing in Queensferry differ for new build properties?
Most buyers of new build property in Queensferry come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because house builders in Queensferry typically buy the land, 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 Queensferry or who has acted in the same development.
I decided to have a survey done on a property in Queensferry in advance of instructing conveyancers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend not issue a mortgage on this type of home.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Queensferry. Conveyancing will be smoother if you use a solicitor in Queensferry especially if they are familiar with such properties in Queensferry.
What can I do to find out who is the owner of a house in Queensferry?
On the basis that the premises is registered with HMLR, and you have the information of the location of the property, you should be able to obtain details from the HM Land Registry of the registered proprietor for a fee.