As I am unsure how the conveyancing process works what is the most important advice you can impart concerning purchase conveyancing in Portland?
Not many law firms shout this from the rooftops but conveyancing in Portland and elsewhere in England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is an abundance of room for friction between you and others involved in the ownership transfer. For example, the seller, estate agent and sometimes the bank. Choosing a law firm for your conveyancing in Portland an important selection as your conveyancer is your adviser, and is the ONLY party in the transaction whose responsibility is to act in your legal interests and to protect you.
We are witnessing a distinct emergence of a "blame" culture- someone must be at fault for the process taking so long. You your first instinct should be to trust your solicitor ahead of all other players when it comes to the legal assignment of property.
We expect to receive a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Lloyds recommend any Portland solicitors on the Lloyds conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Portland solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
The formalities of my purchase has taken place for my property in Portland. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Planning on purchasing a apartment in Portland. 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 Nationwide 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 Portland lawyer is on the Nationwide conveyancing panel.
I purchased my house on 16 February and the transaction details is yet to be registered. Need I be worried? My conveyancing solicitor in Portland said it should be concluded in less than a month. Are properties in Portland particularly slow to register?
There is nothing unique about conveyancing in Portland registration formalities. As opposed to being determined by geographic area, timescales can vary depending on the party submitting the application, whether there are errors and if the Land registry communicate with any interested persons or bodies. Currently roughly three quarters of such applications are fully dealt with within two weeks but some can be subject to protracted delays. Historically registration occurs once the purchaser has moved in to the property therefore post completion formalities is not always primary concern but if it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Portland is where the house is located. What do you suggest?
Flying freeholds in Portland are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Portland you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Portland may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are new to the buying process - had an offer accepted, yet the agent has warned us that the owners will only go ahead if we instruct their chosen solicitors as they need a ‘quick sale’. We would rather use a local solicitor who is familiar with conveyancing in Portland
We suspect that the seller is not behind this ultimatum. If they desire ‘a quick sale', taking such a hostile approach to a motivated buyer is counter productive. Avoid the agents and go straight to the owners and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you wish to move quickly (e)but you will continue to appoint your preferred Portland conveyancing firm - not the ones that will provide the negotiator at the agency a referral fee or meet his conveyancing figures set by senior management.
I work for a reputable estate agent office in Portland where we have witnessed a number of flat sales derailed due to short leases. I have received inconsistent advice from local Portland conveyancing firms. Please can you confirm whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Portland Leasehold Conveyancing - Examples of Questions you should ask before buying
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How many years remain on the lease? What restrictions exist in the Portland Lease? For most Portland leaseholds the outlay for major works tend not to be built into the service charges, albeit that some managing agents in Portland obliged leaseholders to pay into a reserve fund and this is used to offset against larger repairs or maintenance.