My husband and I are looking to purchase a flat in Whitby and are in fact using a Whitby conveyancing practice. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. The Mortgage Works have this evening contacted us to advise us that they have now hit a problem as our Whitby conveyancer is not on their conveyancing panel. Please explain?
Where you are buying a property requiring a mortgage it is usual for the purchasers' lawyers to also act for the mortgage company. 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 mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Whitby solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Why is leasehold purchase conveyancing in Whitby costs more?
Whitby leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
I purchased my home on 8 September and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Whitby advises it would be dealt with in less than a month. Are properties in Whitby particularly slow to register?
There is nothing unique about conveyancing in Whitby registration formalities. Rather than based on location, timeframes can differ according to who lodges the application, whether it is in order and if the Land registry communicate with any interested persons or bodies. At present roughly three quarters of submission are completed within two weeks but occasionally there can be protracted hold-ups. Historically registration takes place after the new owner is living at the property so 'speed' is not usually primary concern but if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what was supposed to be a straight forward, chain free conveyancing. Whitby is the location of the property. Can you offer any guidance?
Flying freeholds in Whitby are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Whitby you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whitby 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 residence.
I am downsizing from my home. My past conveyancers closed down. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Whitby if that makes things easier.
Please use our search tool to help you choose a solicitor for your conveyancing in Whitby. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.
Is it necessary during the course of the conveyancing process to visit the offices of the lender conveyancing panel solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Whitby as it will be easier to pop in to their offices if necessary.
As opposed to ten years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Whitby.