Why is leasehold purchase conveyancing in Bungay costs more?
Bungay leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
My husband and I are buying a purpose built apartment in Bungay with a homeloan from Barclays Direct.We have a Bungay conveyancing solicitor but Barclays Direct says her practice is not on their "panel". we are left little option but to use a Barclays Direct panel solicitor or retain our high street solicitor and pay for a Barclays Direct panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The mortgage issued to you contains terms and conditions, one of which will be that solicitors needs to be on the Barclays Direct approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Barclays Direct
Me and my partner are buying a flat in Bungay. It might be a silly question but how we can trust a lawyer? On completion day we have to put money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We were going to get a AIP from RBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Bungay solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Bungay solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
After shopping around on the internet I have found a Bungay property lawyer having checked that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Bungay surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
My relative suggested that if I am purchasing in Bungay I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is sometimes included in the estimate for your Bungay conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Bungay around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Bungay Education with plans and statistics, Local Amenities and other useful information regarding Bungay.
My wife and I purchased a terraced Georgian house in Bungay. Conveyancing solicitor acted for me and Halifax. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, the second leasehold under the matching property. Is it worth asking Halifax to clarify?
You should review 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 Bungay and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with your conveyancing practitioner who conducted the purchase.
I am selling my home. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. I happen to live in Bungay if that affects matters.
You should use our search tool to help you find a solicitor for your conveyancing in Bungay. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.