My partner and I are looking to acquire a flat in Brading and are in fact using a Brading conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Leeds Building Society have this morning contacted us to inform me that they have now hit a problem as our Brading solicitor is not on their conveyancing panel. Please explain?

Where you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. 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 property lawyer should contact your lender 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 Brading solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.

How do I find out if the solicitor conducting my conveyancing in Brading is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Scotland thus paying £187.00 plus VAT in supplemental legal bill.

Feel free to take advantage of the search tool on this page. Please choose the lender and type ‘Brading’ or your preferred area and you will see numerous conveyancers located in Brading or by proximity to you.

I need some expedited conveyancing in Brading as I am faced with a deadline to complete inside 3 weeks. Fortunately I do not require a mortgage. Is it possible to escape the need for conveyancing searches to save fees and time?

As you are are a mortgage free buyer you are at free not to have searches conducted although no conveyancer would suggest that you don't. With lots of history conveyancing in Brading the following are examples of what can show up and therefore impact market value: Enforcement Actions, Outstanding Charges, Overdue Grants, Unadopted Roads,...

How does conveyancing in Brading differ for newly converted properties?

Most buyers of new build premises in Brading contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is finished. This is because house builders in Brading tend to 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 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 accustomed to new build conveyancing in Brading or who has acted in the same development.

I am in need of some leasehold conveyancing in Brading. Before I set the wheels in motion I require certainty as to the unexpired term of the lease.

If the lease is recorded at the land registry - and almost all are in Brading - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.

Brading Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to Purchasing

Is anyone aware of any major works in the planning that will likely add a premium to the maintenance fees? Best to be warned if changing the roof or some other major work is due shortly to be shared by the leaseholders and will dramatically increase the the maintenance fees or require a specific invoice. How many years are left on the lease?