I am selling my apartment in Blagdon and the estate agent has just telephoned to advise that the buyers are swapping law firm. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific lawyers rather the firm that they want to select to handle their conveyancing in Blagdon ?
UK lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
Last December we completed a house move in Blagdon. We have since encountered a number of issues with the house which we suspect were overlooked in the conveyancing searches. What action can we take? What searches should? have been carried out for conveyancing in Blagdon?
The question is vague as to the nature of the problems and if they are unique to conveyancing in Blagdon. Conveyancing searches and investigations initiated during the legal transfer of property are supposed to help avoid problems. As part of the process, a seller fills in a questionnaire known as a Seller’s Property Information Form. If the information turns out to be inaccurate, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Blagdon.
What will a local search tell me about the property I am purchasing in Blagdon?
Blagdon conveyancing often starts with the applying for local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search is essential in every Blagdon conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic areas.
How does conveyancing in Blagdon differ for newly converted properties?
Most buyers of new build premises in Blagdon come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Blagdon usually buy the land, 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 property lawyers 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 Blagdon or who has acted in the same development.
I have been on the look out for a flat up to £305k and found one near me in Blagdon I like with open areas and station nearby, the downside is that it's only got 61 years on the lease. There is not much else in Blagdon 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 likely be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least twenty four months you can ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor about this matter.
How do I use the search facility to choose a conveyancing solicitor in Blagdon on the approved list for my lender?
Step one is to choose a bank such as Halifax, The Royal Bank of Scotland or Barclays Direct then specify your preferred area for instance Blagdon. Conveyancing practices in Blagdon and nationally will then be listed.