My wife and I are about to exchange on the purchase of a house in Verwood but as a result of damage from a small fire at the property I have was able negotiate compensation from the vendor in the sum of three thousand pounds by way of a deduction in the price. I had intended this to be addressed as part of the conveyancing process yet Leeds Building Society will not agree to this. Why were they involved?
Your conveyancer being on a Leeds Building Society conveyancing panel is required to inform Leeds Building Society of any changes to the purchase price. If you prohibit your lawyer to disclose the reduction to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new lawyer for your conveyancing in Verwood.
My uncle informed me that in purchasing a property in Verwood there could be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of anumerous of properties in Verwood which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Verwood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it correct that all Verwood CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing list of approved solicitors?
Some major lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
We are getting a further advance on our home loan from Bank of Ireland as we intend to carry out improvements to our property in Verwood. Are we obliged to choose a high street Verwood solicitor on the Bank of Ireland conveyancing panel to handle the legals?
Bank of Ireland don't usually require a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Bank of Ireland conveyancing panel.
Will commercial conveyancing searches reveal planned roadworks that could affect a commercial site in Verwood?
Many commercial conveyancing solicitors in Verwood will order a SiteSolutions Highways report as it reduces the time that conveyancers expend in looking into accurate data on highways that impact buildings and development assets in Verwood. The report 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 Verwood.
For each commercial conveyancing transaction in Verwood it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Verwood commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for domestic conveyancing in Verwood.
It has been three months following my purchase conveyancing in Verwood completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Verwood is the location of the property. Is there any guidance you can impart?
Flying freeholds in Verwood 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 Verwood you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Verwood may decide 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 premises.
The solicitors handling our conveyancing in Verwood has sent documents to review that show the land is unregistered with epitome documents. Is it not the case that all properties in Verwood are registered?
Whilst most properties in Verwood are now registered with HM Land Registry there are still some that are unregistered. Any property in Verwood that has been remortgaged since the late 1980’s will have been registered at the HMLR under the compulsory ‘first registration’ scheme. However, if a Verwood property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Verwood conveyancing lawyers will be able to handle this type of conveyancing but if any uncertainty prevails the standard proposition nowadays is for the seller’s conveyancer to register it first and thereafter sell - this can though naturally result in a protracted conveyancing.