My fiance and I are planning to purchase a flat in Aldborough Hatch and are in fact using a Aldborough Hatch conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Platform Home Loans Ltd have this afternoon contacted us to inform me that there is now an issue as our Aldborough Hatch conveyancer is not on their approved list of lawyers. What do we do from here?

When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers to also represent 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 Quality 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Aldborough Hatch solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.

I purchased a freehold property in Aldborough Hatch but still charged rent, why is this and what is this?

It’s unusual for properties in Aldborough Hatch and has limited impact for conveyancing in Aldborough Hatch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.

Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.

Old rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.

Do commercial conveyancing searches reveal impending roadworks that could affect a commercial estate in Aldborough Hatch?

Its becoming the norm that commercial conveyancing solicitors in Aldborough Hatch will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Aldborough Hatch. The report provides definitive information 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 Aldborough Hatch.

For every commercial conveyancing transaction in Aldborough Hatch 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 could cause delays to Aldborough Hatch commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Aldborough Hatch.

I purchased my apartment on 16 October and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Aldborough Hatch expressed confidence that it should be formalised inside ten days. Are properties in Aldborough Hatch uniquely lengthy to register?

There is nothing unique when it comes to conveyancing in Aldborough Hatch registration formalities. Rather than based on location, timescales can differ subject to who lodges the application, whether it is in order and whether the Land registry communicate with any other parties. As of today approximately 80% of submission are completed within 12 days but some can be subject to longer hold-ups. Registration occurs after the buyer is living at the premises therefore 'speed' is not usually an essential issue yet where it is urgent that the the registration takes place urgently then you or your solicitor could contact the land registry and explain the circumstances.

How does conveyancing in Aldborough Hatch differ for new build properties?

Most buyers of new build premises in Aldborough Hatch come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is finished. This is because house builders in Aldborough Hatch usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Aldborough Hatch or who has acted in the same development.