Do I find a Licenced Conveyancer or Solicitor for conveyancing in Newbury Park?

There are many registered licenced Conveyancers in Newbury Park and Solicitor partnerships in Newbury Park to choose from It is important to make clear that both are regulated professionals specialising in the legal work in transferring property. The two can conduct other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

I was told four weeks ago that my mortgage has been agreed to by Nationwide. Is it usual for Nationwide to only issue the offer once my solicitor in Newbury Park is approved on their conveyancing panel? Nationwide have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.

Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Nationwide to deal with your lawyer's application to be on the Nationwide conveyancing panel. There's no guarantee that your solicitor will be accepted.

Our sealed bid on a detached house in Newbury Park has been accepted, but there is a chain. The vendors have offered on a property, but it’s not yet agreed to, and have viewings of other properties booked. I have chosen a nearby conveyancing solicitor in Newbury Park. What do I do now? When should I get the mortgage application with HSBC started?

It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs prematurely (mortgage application is in the region of one thousand pounds, then survey, Newbury Park conveyancing search costs, etc). First, you must ensure that your property lawyer is on the HSBC approved list. As to the subsequent stages this very much depends on the circumstances of your case, desire for this property and on the state of the market. During a rising market many buyers will apply for a home loan with HSBC and pay for the valuation and only if it was satisfactory would they pay their solicitor to move forward with the conveyancing in Newbury Park.

Do commercial conveyancing searches reveal impending roadworks that could impact a commercial premises in Newbury Park?

Its becoming the norm that commercial conveyancing solicitors in Newbury Park will perform a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Newbury Park. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Newbury Park.

For every commercial conveyancing transaction in Newbury Park it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Newbury Park commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Newbury Park.

It has been 3 months following my purchase conveyancing in Newbury Park concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 asset 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.

I've recently found out that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Newbury Park is the location of the property. What do you suggest?

Flying freeholds in Newbury Park are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Newbury Park you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Newbury Park 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.

We own a leasehold flat in Newbury Park. Conveyancing was finished in 21012. I have heard that I should not allow the lease length fall too low. What is the reasoning?

Newbury Park domestic long term leases are for a set term - often just under one hundred years when they started. However many flats in Newbury Park were built or converted in the 60’s and so such leases now have under 80 years remaining. That may seem like a long time but Banks, Building Societies and other mortgage institutions generally require leases to have a minimum of 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need to extend the term of your lease if you are approaching 75 years. To maximise the saleability of your property you should be thinking about whether to extend your lease long before you come to sell it. Please note that there are advantages to taking action before the lease hits 80 years as when the lease falls below 80 years the amount you have to pay to extend starts to increase.