We're in Newbury, First time buyers buying with a mortgage (lender is Yorkshire BS , and our lawyer is on the Yorkshire BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Yorkshire BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
A friend suggested that if I am purchasing in Newbury I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Newbury conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Newbury around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Newbury Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data about Newbury.
My wife and I own a renovated Edwardian property in Newbury. Conveyancing practitioner represented me and Yorkshire Building Society. I did a free Land Registry search last week and there are a couple of entries: the first freehold, another for leasehold under the matching property. I'd like to know for sure, how can I find out??
You need to assess 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 Newbury and other areas of 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 question the position with your conveyancing practitioner who carried out the work.
How does conveyancing in Newbury differ for new build properties?
Most buyers of new build or newly converted property in Newbury contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because house builders in Newbury usually purchase 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 property lawyers 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 Newbury or who has acted in the same development.
Am I right to be suspicious by 3rd parties that I am dealing with are suggesting a national conveyancing firm rather than a local Newbury conveyancing company?
As with many service providers, often suggestions from relatives can be worth their weight in gold. But there are lots of players in a conveyancing transaction; estate agents, financial adviser and banks may suggest lawyers to use. Sometimes these solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You are free to select your own conveyancer. However, bear in mind that the majority of mortgage providers have an approved list of conveyancers you are obliged to use for the lender aspect of your transaction.
I am four weeks into a leasehold purchase having been directed to solicitors by the estate agent to perform conveyancing in Newbury. I am not happy. Could you you assist me in finding new lawyers?
A lawyer would need to be very poor to suggest replacing them. Has your loan offer been issued? If so you must inform them of the new contact details and get the offer are issued to the new lawyers. Your solicitor ideally should be on the banks panel to avoid escalating fees and delays. That should be your first question of the new conveyancers. The search tool should assist you in finding a lender approved conveyancer for your conveyancing in Newbury