My fiance and I are planning to acquire a house in Sneyd Park and have instructed a Sneyd Park conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Chelsea Building Society have this afternoon contacted us to inform me that there is now an issue as our Sneyd Park conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the purchaser's lender. 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 Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Sneyd Park lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
It is is a decade since I purchased my house in Sneyd Park. Conveyancing solicitors have recently been appointed on the sale but I am unable to track down my deeds. Is this a problem?
Don’t worry too much. First there is a possibility that the deeds will be retained by your mortgage company or they may be in the possession of the lawyers who handled your purchase. Secondly the chances are that the land will be registered at the land registry and you will be able to prove you own the property by your conveyancing lawyers acquiring up to date copy of the land registers. Nearly all conveyancing in Sneyd Park relates to registered property but in the rare situation where your home is unregistered it is more tricky but is resolvable.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Sneyd Park?
Many commercial conveyancing solicitors in Sneyd Park will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Sneyd Park. The report provides definitive information 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 Sneyd Park.
For every commercial conveyancing transaction in Sneyd Park it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Sneyd Park commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Sneyd Park.
The deeds to my house are lost. The solicitors who conducted the conveyancing in Sneyd Park 5 years ago no longer exist. What do I do?
You no longer need to hold title original deeds to prove you own the land or premises, given that the Land Registry hold details of all registered land or property electronically.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Sneyd Park is the location of the property. Is there any guidance you can give?
Flying freeholds in Sneyd Park are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Sneyd Park you must be sure that your lawyer goes 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 Sneyd Park may decide 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 property.