The property market in Barton Upon Humber is heating up. What can be done to quicken up the legal process?

In the event that the seller is applying time constraints for your conveyancing it is highly recommended that your conveyancer is familiar with the location as they will benefit local relationships and know-how. It is even conceivable that they may have handled otherhomes in the same street. You would be best advised to use a Barton Upon Humber conveyancing solicitor. Second, check that the conveyancing firm is on the lender panel. It is estimated that just under twenty per cent of Barton Upon Humber conveyancing deals are frustrated or jeopardised after discovering a buyer’s conveyancer was not on their mortgage lender’s list of approved solicitors. In many cases this discovery resulted in the legal transfer of property being held up by as much as 21 days. It is understood that this issue impacts approximately 100,000 home moves annually. Most Barton Upon Humber conveyancing practices can not represent certain mortgage companies so do check as early as possible.

I am expecting a DIP from Skipton this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Skipton recommend any Barton Upon Humber solicitors on the Skipton conveyancing panel, or is it better to go independently?

You will need to appoint Barton Upon Humber solicitors independently although you'll need to choose one on the Skipton conveyancing panel. The solicitor represents both you and Skipton through the process.

I have paid off my mortgage with RBS. I assume I don't need a Barton Upon Humber property lawyer on the RBS panel to discharge the mortgage at the Land Registry. Am I right?

If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where RBS has sent the Land Registry the discharge electronically, and
3. RBS has instructed the Land Registry to do so

I was told three weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Barton Upon Humber is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their PI Insurance.

A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.

How does conveyancing in Barton Upon Humber differ for new build properties?

Most buyers of new build premises in Barton Upon Humber contact us having been asked by the builder to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because builders in Barton Upon Humber typically acquire the real estate, 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 conveyancing solicitors 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 used to new build conveyancing in Barton Upon Humber or who has acted in the same development.

Due to the advice of my in-laws I had a survey completed on a house in Barton Upon Humber in advance of appointing conveyancers. I have been told that there is a flying freehold aspect to the property. Our surveyor advised that some banks will not give a mortgage on a flying freehold home.

It depends who your proposed lender is. Bank of Scotland has different instructions for example to Halifax. If you contact us we can look into this further via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Barton Upon Humber. Conveyancing may be slightly more expensive based on your lender's requirements.

I am employed by a long established estate agency in Barton Upon Humber where we have witnessed a few flat sales put at risk as a result of short leases. I have received contradictory information from local Barton Upon Humber conveyancing firms. Please can you clarify whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?

Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the sale.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.

Barton Upon Humber Conveyancing for Leasehold Flats - A selection of Queries before buying

Are there any major works anticipated that could increase the service fees? How is the lease structured? Please note that where the lease has no more than eighty years it will affect the salability of the flat. It is worth checking with your lender that they are happy with the length of the lease. A short lease means that you will probably have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Barton Upon Humberlease extensions you will be required to have been the owner of the residence for a couple of years in order to be legally able to carry out a lease extension.