I am need of leasehold conveyancing for an apartment in a relatively new development (five years built) in Poundbury. Almost all the flats have already been sold. Do I need carry out the conveyancing searches for my conveyancing in Poundbury?
You are taking a significant risk in failing carrying out Poundbury conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying without a mortgage there is no legal necessity to have them, but we would seriously advise in no uncertain terms that you have them. Where timings and price are primary issues you should consider with your conveyancer about the viability of search insurance
Is there a reason why leasehold purchase conveyancing in Poundbury costs more?
In short, leasehold conveyancing in Poundbury and Dorset usually requires more work compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord about serving appropriate notices, procuring current service charge and management information, obtaining the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – regardless of the fact the lease has passed through many different property solicitors hands since it was first granted.
I am selling my house in Poundbury. Will the solicitor need to be required to be on the Coventry BS conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Coventry BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently in recent years.
There is lots of information on this site regarding conveyancing in Poundbury but can you isolate your top tip for selecting the right conveyancer in Poundbury
Do not opt for the cheapest Poundbury conveyancing quote. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
We previously instructed conveyancing lawyers with offices in Poundbury on the HSBC solicitor approved list. They have just invoiced me a further fee for dealing with the HSBC mortgage. Is this an additional conveyancing fee set by HSBC?
As unfair as it may seem, as long as it’s in their Terms of Engagement or estimate then yes your conveyancing practitioner can charge a fee for this. The charge is not dictated by HSBC but by your Poundbury solicitor. Numerous firms on the HSBC panel will quote ’dealing with mortgage’ fee and others do not.
I have today made my last payment due on my mortgage with Nottingham. I assume I don't need a Poundbury conveyancer on the Nottingham panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nottingham mortgage from the register. Nottingham, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
Just bought a terraced house in Poundbury , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Poundbury conveyancing solicitor works at snail pace, so I want to be sure the post completion formalities are addressed.
There is nothing unique when it comes to conveyancing in Poundbury registration formalities. Rather than based on location, timeframes can differ subject to the party submitting the application, whether it is in order and whether the Land registry have to notify any third parties. At present in the region of 80% of such applications are fully dealt with in less than three weeks but occasionally there can be longer hold-ups. Historically registration occurs once the purchaser is living at the premises so 'speed' is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing my first flat in Poundbury with a mortgage from HSBC Bank. The builders would not move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not inform my conveyancer about this deal as it will affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.