Are the March conveyancing solicitors identified as being on the Nationwide conveyancing panel, together with their details provided by Nationwide?

March conveyancing firms themselves provide us confirmation that they are on the Nationwide conveyancing panel as opposed to being supplied with a list from Nationwide directly.

How does conveyancing in March differ for newly converted properties?

Most buyers of new build premises in March come to us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is built. This is because builders in March usually buy 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 property lawyers 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 March or who has acted in the same development.

I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in March I like with amenity areas and transport links in the vicinity, the downside is that it's only got 49 years unexpired on the lease. There is not much else in March suitable, so just wondered if I would be making a mistake buying a lease with such few years left?

If you require a mortgage the shortness of the lease will be problematic. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.

Back In 2009, I bought a leasehold house in March. Conveyancing and Chelsea Building Society mortgage are in place. I have received a letter from someone claiming to own the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1994. The conveyancing practitioner in March who previously acted has now retired. Do I pay?

First make enquiries of the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a March conveyancing firm to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the rightful freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.

Leasehold Conveyancing in March - A selection of Queries before Purchasing

This information is useful as a) areas could result in problems for the building as the communal areas may start to deteriorate where maintenance remain unpaid b) if the tenants have an issue with the managing agents you will want to know about it Is the freehold reversion owned collectively by the leaseholders? You should want to find out as much as possible about the managing agents as they will either make your life much simpler or problematic. Being a leasehold owner you are often in the clutches of the managing agents from a financial perspective and when it comes to every day issues such as the upkeep of the communal areas. Enquire of other people whether they are happy with their management. On a final note, find out the dates that the maintenance fees are due to the relevant party and precisely how they are spending the funds.

Builders have suggested I use a conveyancing practitioner and I've sought a quote from them. They are nearly two hundred pounds cheaper than my local March lawyer. What's the catch?

Housebuilders normally have panels of conveyancers who expedite matters and who know the developer’s documentation and conveyancer. As many developers offer an inducement to use their approved lawyer for this reason, any increased charges can be avoided and a builder will not put forward a conveyancing factory and run the risk of having the conveyancing delayed when they demand an exchange within a tight time frame. The argument for not opting for the recommended solicitor is that they may prove reluctant to fight for your interests at the risk of alienating the developer. Where you have concerns that this may be the case you should remain with your high street March conveyancer.