My husband and I are planning to buy a 1 bedroom apartment in Longridge with a mortgage. We like our Longridge conveyancer, however the bank advise he's not on their "panel". It seems we have no choice but to use one of the mortgage company panel conveyancing practices or keep our Longridge solicitor as well as pay for one of their panel ones to act for them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Longridge conveyancing lawyer to apply to be on the conveyancing panel.
I know that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when acquiring a residence in Longridge? or Apparently there is an ancient law that could mean that owners of property living in a parish church boundary may be liable to pay for repairs to the chancel within the church. Is this a legitimate concern for conveyancing in Longridge?
Unless a prior acquisition of the premises took place after 12 October 2013 you may take it that solicitors conducting conveyancing in Longridge to remain recommending a chancel search and or insurance against a claim.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The solicitors who dealt with the conveyancing in Longridge 5 years ago no longer exist. Will I be able to sell the house?
As long as the title is registered the details of your ownership will be recorded by the Land Registry under a Title Number. It is easy to execute a search at the Land Registry, find your property and obtain current copies of the property title for a small fee. If the title is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be retrieved for £20 inclusive of VAT.
How does conveyancing in Longridge differ for new build properties?
Most buyers of new build residence in Longridge contact us having been asked by the builder to sign contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Longridge tend to purchase the site, 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 Longridge or who has acted in the same development.
I decided to have a survey carried out on a property in Longridge before retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. My surveyor advised that some mortgage companies tend not grant a mortgage on such a home.
It varies from the lender to lender. Lloyds has different requirements for example to Birmingham Midshires. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Longridge. Conveyancing will be smoother if you use a solicitor in Longridge especially if they regularly deal with such properties in Longridge.