We wanted to use a property lawyer in Basingstoke for our house move. Our broker informed us that our mortgage company Bank of Scotland won't deal with them. Surely this is unduly restrictive?
Pre- 2008 most mortgage companies had a different appetite for risk. Almost all Basingstoke conveyancing firms would have been on many lender panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms regarding their operations and their employees and set certain criteria such a completing on a minimum volume of conveyancing. Many Basingstoke conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Basingstoke is one of the many locations where the solicitors we recommend are members of the panel for Bank of Scotland.
How does conveyancing in Basingstoke differ for newly converted properties?
Most buyers of new build residence in Basingstoke approach us having been asked by the builder to exchange contracts and commit to the purchase even before the house is ready to move into. This is because developers in Basingstoke usually 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 conveyancers 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 Basingstoke or who has acted in the same development.
I decided to have a survey done on a house in Basingstoke in advance of retaining solicitors. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies may refuse to issue a loan on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Basingstoke. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way does the Landlord & Tenant Act 1954 affect my business premises in Basingstoke and how can your lawyers assist?
The particular law that you refer to affords security of tenure to business leaseholders, giving them the right to apply to court for a new tenancy and remain in occupation when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Basingstoke
I am looking for a conveyancing lawyer in Basingstoke for my home move. Is it possible to see a firm’s record with the profession’s regulator?
You may find presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, call +44 (0)121 329 6800. The SRA could monitor call for training purposes.
Online reading suggests that Basingstoke solicitors are more costly than Basingstoke conveyancers in Basingstoke to use when purchasing a house. Am I better off using a conveyancer or a solicitor where I am purchasing a property in Basingstoke.
When it comes to conveyancing in Basingstoke the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.