Do the Building Society Association intend to launch a search tool with a view to list firms on the Loughborough BS conveyancing panel for example in Ludlow?
We are not aware of any intention on the part of the BSA to develop such a register.
Various web forums that I have come across warn that are the number one cause of delay in Ludlow conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Ludlow.
My wife and I purchased a semi-detached Edwardian house in Ludlow. Conveyancing practitioner represented me and Coventry Building Society. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold with the matching address. If a house is not a freehold shouldn't I have been informed?
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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Ludlow and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the position with your conveyancing practitioner who conducted the purchase.
I have been on the look out for a ground for flat up to £305k and identified one close by in Ludlow I like with open areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Ludlow in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
How straightforward is it to use the search facility to locate a conveyancing solicitor in Ludlow on the panel for my bank?
Step one is to select a lender such as Santander, The Royal Bank of Scotland or Nottingham Building Society then specify your preferred area for instance Ludlow. Conveyancing practices in Ludlow and beyond will then be listed.
We are 3 weeks into a freehold purchase having been directed to a firm by the selling agent to do our conveyancing in Ludlow. I am am starting to be frustrated with the level of service. Can you help me find new lawyers?
A conveyancer would have to be really bad in order to consider diss instructing them. Has your mortgage offer been issued? If so you need to inform them of the new conveyancer and have the mortgage documents are re-sent. Your new solicitor ideally needs to be on the mortgage company approved list to avoid escalating expenses and complications. That should be your starting point. The search tool will assist you in finding a bank approved conveyancer for your home move in Ludlow