My wife and I are looking to acquire a property in Northumberland and are in fact using a Northumberland conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barnsley Building Society have this evening contacted us to advise us that they have now hit a problem as our Northumberland lawyer is not on their conveyancing panel. What do we do from here?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also represent the purchaser's lender. 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 lender 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 and you may continue to use your own Northumberland solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Do I need to have a meeting at the offices of the solicitor to sign the legal charge? If so, I will instruct a firm who offer conveyancing in Northumberland so that I can pop in to their offices when needed.
Most approved lawyers for mortgage companies undertake their work via Royal Mail, e-mail or over phone calls. This enables them to undertake the legal work for your home move regardless of where you live in the country. However you should check if you can still book an appointment to visit conveyancing lawyer if you prefer.
The deeds to my property can not be found. The conveyancers who handled the conveyancing in Northumberland 5 years ago no longer exist. What are my next steps?
Gone are the days when you need to hold title original deeds to establish that you are the owner of your registered land or property, given that the Land Registry hold details of all registered land or property electronically.
How does conveyancing in Northumberland differ for newly converted properties?
Most buyers of new build or newly converted property in Northumberland come to us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Northumberland tend to purchase the site, 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 Northumberland or who has acted in the same development.
I decided to have a survey completed on a property in Northumberland prior to retaining lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some lenders will not issue a mortgage on such a house.
It varies from the lender to lender. Bank of Scotland has different requirements from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Northumberland. Conveyancing may be slightly more expensive based on your lender's requirements.
What are your top tips when it comes to appointing a Northumberland conveyancing firm to deal with our lease extension?
When appointing a conveyancer for your lease extension (regardless if they are a Northumberland conveyancing practice) it is essential that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Northumberland conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
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How experienced is the practice with lease extension legislation? What are the charges for lease extension conveyancing?
Northumberland Leasehold Conveyancing - Sample of Questions you should ask before buying
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Are any of leasehold owners in dispute over their service charge liability? Does the lease contain onerous restrictions? How much is the ground rent and service charge?