My partner and I are planning to purchase a house in Honiton and are in fact using a Honiton conveyancing practice. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Leeds Building Society have this evening contacted us to inform me that they have now hit a problem as our Honiton lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers 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 Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Honiton lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Why is leasehold purchase conveyancing in Honiton is more expensive?
In summary, leasehold conveyancing in Honiton and elsewhere usually involve extra work compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord concerning the service of applicable notices, securing up-to-date service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first entered into.
A colleague pointed out to me me that in purchasing a property in Honiton there could be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are a number of properties in Honiton which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Honiton should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Intending to buy a flat in Honiton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Co-operative conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Honiton lawyer is on the Co-operative conveyancing panel.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Honiton solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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 Honiton 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.
I need some expedited conveyancing in Honiton as I am faced with a deadline to exchange contracts within 3 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are not taking a home loan you have the choice not to do searches although no law firm would advise that you don't. Drawing on our experience of conveyancing in Honiton the following are examples of issues that can arise and adversely affect market value: Refused Planning Applications, Overdue Charges, Outstanding Grants, Railway Schemes,...
My wife and I own a 4 bedroom Edwardian house in Honiton. Conveyancing solicitor acted for me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold with the exact same address. I'd like to know for sure, how can I find out??
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Honiton 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 buyers. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
How do I find the right lawyer for my conveyancing in Honiton ?
First ask your friends and family who they would recommend. Second, look on the internet for conveyancing in Honiton. Call two or three from the list and request that they email you their conveyancing charges and discuss your needs with the solicitor who will conduct your conveyancing before you commit. Option 3 is to make use of our search tool to assist you in finding the right lawyers for you based on your unique factors including location,speed, complexity and who the proposed mortgage company is.Resist the temptation to appoint £99 conveyancing solicitors in Honiton