Please help. My Basildon solicitor is assuring me that he is legally obliged toapply for Basildon conveyancing searches asthe firm are on the Santanderconveyancing panel. These Basildon searches cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Basildon conveyancing searches.
We have a mortgage agreed in principle with Skipton. Basildon conveyancing practitioners have been instructed. How long does it take for Skipton to send the offer to the conveyancer?
There is no definitive answer here. Have Skipton done the valuation? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Basildon property lawyer on the Leeds Building Society panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Leeds Building Society mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Leeds Building Society mortgage from the register. Leeds Building Society, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
At last I have had an offer on a maisonette in Basildon accepted, the vendors do nevertheless have a dependent purchase. The owners have placed an offer on a flat, however it’s not yet tied up, and have viewings of other flats in the pipeline. I have instructed a nearby conveyancing solicitor in Basildon. What should be my next step? When do I get the mortgage application with Co-operative going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then valuation, Basildon conveyancing search costs, etc). First, you must check that your property lawyer is on the Co-operative approved list. As to the next stages this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. In a hot market some home buyers would apply for the mortgage with Co-operative and pay for the valuation and only if it was satisfactory would they ask their solicitor to move forward with searches.
Various online forums that I have come across warn that are the primary reason for delay in Basildon conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of delays during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Basildon.
The deeds to my property are lost. The conveyancers who did the conveyancing in Basildon 10 years ago no longer exist. What do I do?
Gone are the days when you need to have the physical deeds to establish that you own the land or premises, as the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Basildon differ for new build properties?
Most buyers of new build premises in Basildon contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Basildon typically buy the real estate, 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 Basildon or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Basildon is the location of the property. Is there any guidance you can give?
Flying freeholds in Basildon are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Basildon you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Basildon 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.