My wife and I purchased a renovated Victorian property in Banbury. Conveyancing practitioner represented me and Britannia. I happened to do a free search for it on the Land Registry database and there are two entries: one for freehold, another for leasehold with the matching address. Is it worth asking Britannia to clarify?
You should read 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 Banbury and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the position with your conveyancing solicitor who completed the work.
How does conveyancing in Banbury differ for newly converted properties?
Most buyers of new build or newly converted property in Banbury come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Banbury typically acquire 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 used to new build conveyancing in Banbury or who has acted in the same development.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Banbury is the location of the property. What do you suggest?
Flying freeholds in Banbury are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Banbury you must be sure that your lawyer goes 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 Banbury may ascertain 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.
I have been advised by numerous estate agents in Banbury to find a solicitor using your seach tool. Is there a financial upside for Estate Agents to offer your lawyers ahead of alternative conveyancing organisations?
We don’t make any commission for sending work our way. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
We're new on the property ladder - agreed a price, yet the selling agent told us that the vendor will only proceed if we instruct their recommended lawyers as they want an ‘expedited deal’. Our preferred option is to instruct a high street conveyancer who is accustomed to conveyancing in Banbury
It is highly unlikely the sellers are behind this. If they want ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Speak to the owners direct and explain that (a)you are serious buyers (b)you are ready to progress, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you intend to instruct your own,trusted Banbury conveyancing solicitors - rather thanthose that will give their negotiator at the agency a commission or hit his conveyancing targets demanded by HQ.