I have a renovated Edwardian property in Staindrop. Conveyancing practitioner represented me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, the second leasehold with the matching address. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Staindrop and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also enquire as to the situation with your conveyancing lawyer who completed the work.
How does conveyancing in Staindrop differ for new build properties?
Most buyers of new build premises in Staindrop come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because house builders in Staindrop tend to buy the site, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Staindrop or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. Staindrop is where the house is located. Can you shed any light on this issue?
Flying freeholds in Staindrop are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Staindrop you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Staindrop 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 premises.
How can the Landlord & Tenant Act 1954 affect my commercial property in Staindrop and how can your lawyers assist?
The 1954 Act gives protection to business lessees, giving them the dueness to make a request to court for a renewal lease and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Staindrop
My wife and I are purchasing a ground floor flat in Staindrop. When we first instructed conveyancer, they assured us that they were on all mainstream mortgage company panels. Our mortgage broker contacted us today to advise that they don't seem to be on the Principality approved list. Should that be true, what should we do? Should we just find a different solicitor that is on their panel or do we cover the costs for separate representation, with Principality selecting their own approved lawyer.
When acquiring a property with the benefit of a mortgage it is normal for the buyer’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's list of approved lawyers. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to satisfy. Some mortgage companies now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your lawyer should call Principality to find out 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 are not legally obliged to appoint a law firm on Principality's conveyancing panel and you may continue to use your own Staindrop solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.