I can't travel far from Maryland. Is there a reason why all Maryland conveyancers aren't included on all lender panels?
A decade ago most lenders had an attitude to risk which differs from the current day. The FSA in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, banks have since requiredmore data from law firms about their operations and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of volume of transactions the lenders required.
My brother-in-law has suggested I instruct a conveyancing solicitor in Maryland. I need to find out if they are on the Santander conveyancing panel. Could you assist?
The first thing you should do is phone your conveyancer and ask them whether they are on the lender panel. Alternatively you can call Santander who may be able to assist.
My wife and I have a semi-detached Edwardian house in Maryland. Conveyancing practitioner represented me and Yorkshire Building Society. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, the second leasehold with the matching property. 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 Maryland and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with your conveyancing practitioner who conducted the purchase.
How does conveyancing in Maryland differ for new build properties?
Most buyers of new build property in Maryland come to us having been asked by the developer to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Maryland usually purchase 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 conveyancers 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 accustomed to new build conveyancing in Maryland or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a property in Maryland ahead of appointing lawyers. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies tend refuse to issue a mortgage on this type of property.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Maryland. Conveyancing may be slightly more expensive based on your lender's requirements.
In what way can the Landlord & Tenant Act 1954 affect my business offices in Maryland and how can you help?
The 1954 Act provides protection to commercial lessees, granting the dueness to apply to court for a new tenancy and remain in occupation at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act for protection and handle your commercial conveyancing in Maryland