My fiance and I are hoping to acquire a house in Herefordshire and have instructed a Herefordshire conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Accord Mortgages Ltd have this afternoon contacted us to advise us that they have now hit a problem as our Herefordshire conveyancer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Herefordshire solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
What does my ID and proof of funds have anything to do with my conveyancing in Herefordshire? Is this really necessary?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms and Conditions that you need to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. If you refuse to supply identification documents, your lawyer would not be able to act for you.
Are there restrictive covenants that are commonly identified during conveyancing in Herefordshire?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Herefordshire. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Herefordshire differ for new build properties?
Most buyers of new build premises in Herefordshire contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is completed. This is because builders in Herefordshire tend to acquire 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 used to new build conveyancing in Herefordshire or who has acted in the same development.
Last May I purchased a leasehold house in Herefordshire. Do I have any liability for service charges for periods before my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Herefordshire Leasehold Conveyancing - Sample of Queries Prior to Purchasing
-
You will want to discover as much as you can concerning the company managing the block as they will either make your living at the property much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to day to day matters such as the upkeep of the common parts. Ask other people what they think of their service. On a final note, be sure you know the dates that the maintenance charges are due to the managing agents and specifically how they are spending that money. Does the lease include onerous restrictions?
I cannot visit my Herefordshire conveyancing lawyers office to execute documents for conveyancing in Herefordshire – will this be an issue?
Not a problem. Herefordshire conveyancing lawyers can deal with home moves for clients from a distance. It is not necessary for you to be able to be present a Herefordshire conveyancers office. They can undertake everything via phone, post and email - whatever works for you.