Unfortunately I am unable to travel far from Tisbury. What is the rationale as to why all Tisbury conveyancers aren't included on all bank panels?
Even though it may seem unfair for banks to restrict who can represent them, from the public’s or conveyancer’s perspective, the other side of the coin is that lending institutions are increasingly anxious and feel it essential to protect them from illegal activities. As a result of this concern mortgage companies have consolidated their panel of approved conveyancing lawyers to a manageable size.
I had intended to instruct a property lawyer in Tisbury for our home move. Our financial adviser has since notified us that our mortgage lenders Halifax won't deal with them. Why is this not regarded as unfair competition?
Banks ordinarily restrict either the type or the volume of conveyancing practices on their panel. A common example of such criteria being that a law practice must have two or more partners. In addition to restricting the type of firm, a few banks have decided to limit the number of solicitor practices they use to act for them. Be aware that Halifax have no responsibility for the quality of advice provided by any member of Halifax Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are mixed views about the level of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that hundreds of law firms, including some in or near Tisbury only perform very few conveyances per annum.
Have just purchased a repossessed house at auction in Tisbury. Conveyancing is necessary. What are my next steps?
Given that you are now exchanged you must appoint a conveyancing lawyer quickly as you will have a pending a fixed date to complete the deal. All auction property will ordinarily have an associated auction pack. This should include most,if not all of the documents that your lawyer will need. In the case of leasehold property the auction papers may include a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
A colleague advised me that in buying a property in Tisbury there could be various restrictions prohibiting external changes to the property. Is this right?
There are a number of properties in Tisbury which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Tisbury should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Tisbury solicitor - who is on the UBS conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
UBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually UBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Tisbury surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should commercial conveyancing searches reveal proposed roadworks that could impact a commercial estate in Tisbury?
Its becoming the norm that commercial conveyancing solicitors in Tisbury will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in looking into accurate data on highways that impact buildings and development assets in Tisbury. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Tisbury.
For every commercial conveyancing transaction in Tisbury it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Tisbury commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Tisbury.
About to purchase a new build apartment in Tisbury. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Tisbury
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been on the look out for a ground for flat up to £245,000 and identified one close by in Tisbury I like with open areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Tisbury in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.