Can you explain why leasehold purchase conveyancing in Devon is more expensive?
Devon leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Devon?
The first thing to point out is that, this is very unlikely to happen. 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 for a fee.
Me and my brother have a terraced Georgian property in Devon. Conveyancing solicitor represented me and Santander. I did a free Land Registry search last week and I saw two entries: the first freehold, the second leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Devon and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with the conveyancing solicitor who conducted the conveyancing.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Devon is the location of the property. Can you shed any light on this issue?
Flying freeholds in Devon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Devon you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Devon 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 premises.
What tools are available to identify a Devon solicitor on the Virgin Money conveyancing panel? I am a keen cyclist and am willing to travel upto 25miles to meet the conveyancer.
You can use the tool on this page. Please select a lender and your location and you will see a number of Devon conveyancing lawyers located nearest you. We have listed some Devon conveyancing firms at the bottom of this page and you can contact them to verify whether they are on the Virgin Money member panel