Why do I have to pay up front for conveyancing in Leeswood?

If you are buying a property in Leeswood your lawyer will request that you place them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the conveyancing searches. If any deposit is payable against the sale price then this should be asked for shortly before contracts are exchanged. Any further balance that is needed will be payable shortly before completion.

We wanted to use a property lawyer in Leeswood for our house move. Our financial adviser informed us that our mortgage company Santander won't deal with them. Why is this not regarded as unfair competition?

Before the recession most mortgage companies had a different appetite for risk. Almost all Leeswood conveyancing firms would have been on most mortgage company panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms relating to their operations and their employees and set certain criteria such a completing on a minimum number of transactions. Many Leeswood conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Leeswood is amongst the many areas where the lawyers showing on our search results are members of the panel for Santander.

It has been 3 months since my purchase conveyancing in Leeswood took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £170,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Leeswood is where the house is located. What do you suggest?

Flying freeholds in Leeswood are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Leeswood you would need to get your solicitor to go 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 Leeswood may determine 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.

Last August I purchased a leasehold house in Leeswood. Do I have any liability for service charges relating to a period prior to completion of my purchase?

In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.

If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).

Leeswood Leasehold Conveyancing - A selection of Queries Prior to Purchasing

You should want to find out as much as possible regarding the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the cleanliness of the communal areas. Ask other tenants whether they are happy with their service. In conclusion, investigate as to the dates that the maintenance fees are due to the appropriate party and specifically what you get for your money. On the whole the outlay for major works tend not to be incorporated into the maintenance charges, albeit that a few managing agents in Leeswood ask tenants to pay into a reserve fund created for the specific purpose of building a fund for larger works. Who manages the building?