My fiance and I are purchasing a leasehold flat in Burton Latimer. My property lawyer is not listed on the bank solicitor list. Is it possible for me to appoint my Burton Latimer conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel of approved conveyancing solicitors?
You must have a lawyer to complete the formalities when you take out a mortgage to purchase your property. The lawyer will carry out all the relevant investigations on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. One can instruct a Burton Latimer conveyancing practitioner of your choosing. Nevertheless, if the lawyer appointed is not on the bank conveyancing panel further costs will be levied as separate legal representation will be need by the lender. Bank panel applications can be submitted, so if your lawyer has not in the past sought membership they can do so.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when buying a residence in Burton Latimer? or I am told that there is a law dating back centuries that means some house owners residing in a parish church boundary will be compelled to contribute towards maintenance to the chancel in proximity to the church. Is this relevant for conveyancing in Burton Latimer?
Unless a prior acquisition of the house took place post 12 October 2013 you may assume that solicitors carrying out conveyancing in Burton Latimer to continue to suggest a chancel search and or chancel repair liability insurance.
My wife and I purchased a renovated Victorian house in Burton Latimer. Conveyancing solicitor acted for me and Lloyds TSB Bank. I happened to do a free search for it on the Land Registry database and there are two entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Burton Latimer and other areas of 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 buyers. You can also question the situation with the conveyancing lawyer who conducted the purchase.
How does conveyancing in Burton Latimer differ for newly converted properties?
Most buyers of new build residence in Burton Latimer come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is finished. This is because house builders in Burton Latimer usually acquire 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 Burton Latimer or who has acted in the same development.
To what extent are Burton Latimer conveyancing solicitors duty bound by the Law Society to issue clear conveyancing costs?
Contained within the Solicitors Code of Conduct are set rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Burton Latimer or or elsewhere in the country.