I decided to go with a high street firm for our conveyancing in Woodcote today. Going through the Ts and Cs I notewe are liable for costs even if our purchase aborts. Should I ditch them and choose an internet firm who offer no-sale-no-fee conveyancing in Woodcote?
Generally there is a concession along the lines that if "No Sale No Fee" is advertised then the fee levels will generally be more expensive to offset those transactions that fail to complete. You should be mindful that these deals generally do not cover outlay such as Woodcote conveyancing search costs.
Can you help? My Woodcote lawyer is informing me me that he is legally obliged toorder Woodcote conveyancing searches becausethe firm are on the Santanderconveyancing panel. Do I not have any say here?
Unfortunately both you and your lawyer have little choice here. As you are taking a mortgage with a mortgage company your conveyancer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Woodcote conveyancing searches.
Please explain the implications if my lawyer’s firm is removed from the Co-operative Solicitor panel ahead of completing my conveyancing in Woodcote?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
My wife and I own a terraced Edwardian property in Woodcote. Conveyancing lawyer represented me and Nottingham Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, the second leasehold under the matching property. If a house is not a freehold shouldn't I have been informed?
You should review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Woodcote and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with the conveyancing practitioner who completed the work.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, no chain conveyancing. Woodcote is the location of the property. Can you shed any light on this issue?
Flying freeholds in Woodcote are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Woodcote you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Woodcote 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.
Expecting to sign contracts shortly on a studio apartment in Woodcote. Conveyancing solicitors assured me that they report fully next week. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Woodcote should include some of the following:
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What remedies are open the freeholder should you have violated the provisions of the lease? Will you be prohibited or prevented from having pets in the property? Does the lease require carpeting throughout thus preventing wood flooring? You should have a good understanding of the building insurance provisions Rent payments - how much and when you need to pay, and be on notice if this will change in the future
Woodcote Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
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How many years are left on the lease? This question is important as a) areas could result in problems in the building as the common areas may start to deteriorate if services remain unpaid b) if the leasehold owners have a dispute with the running of the building you will need to have complete disclosure What is the name of the managing agents?