Some advice if I may. My Arundel lawyer is assuring me that she is duty bound toorder Arundel conveyancing searches becausethe firm are on the Santanderapproved lawyer panel. Do I not have any say here?
You have limited options available to you. As you are taking a home loan with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Arundel conveyancing searches.
After looking at mumsnet.com for a cheap solicitor in Arundel, most post that I should look for a CQS kitemarked lawyer. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's biggest mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Building Societies Association (BSA). The scheme does not cover licenced conveyancers. Arundel is one of the many areas in England and Wales where there are Accredited lawyers.
Various online forums that I have come across warn that are the number one reason for hinderance in Arundel conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Searches are not likely to feature in any delay in conveyancing in Arundel.
I have a renovated Victorian property in Arundel. Conveyancing practitioner acted for me and National Westminster Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold under the matching address. Is it worth asking National Westminster Bank to clarify?
You need to assess the Freehold register you have again and check the Charges Register for 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 Arundel and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with the conveyancing practitioner who carried out the work.
I have been on the look out for a leasehold apartment up to £235,500 and identified one close by in Arundel I like with amenity areas and railway links in the vicinity, the downside is that it's only got 52 years unexpired on the lease. There is not much else in Arundel for this price, so just wondered if I would be making a grave error buying a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Our solicitor in Arundel is asking me for ID documents asserting that this forms part of his legal duty as a conveyancer on the bank Solicitor panel. Am I being spun a yarn?
Anti-terror and anti-money-laundering rules require Arundel conveyancing solicitors and licensed conveyancers to verify the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt confirm this. Your lawyer is right that the lender also require certain documents to be viewed. If a you refuse to provide ID verification documents, your conveyancer would not be able to accept instructions from you. Your lawyer also has obligations to obtain certain documents in accordance with the mortgage company's UK Finance Lenders’ Handbook requirements