Me and my partner are buying a property in Poundbury. I might seem paranoid but how we can trust a lawyer? At some point we will need to deposit funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We previously selected conveyancers based in Poundbury on the RBS solicitor panel. They have just invoiced me a separate sum for the legal aspects of the RBS mortgage. Is this a supplemental conveyancing fee specified by RBS?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your property lawyer may levy a fee for this. The charge is not set by RBS but by your Poundbury conveyancing practitioner. Numerous firms on the RBS panel will levy an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
Our offer on a house in Poundbury has been accepted, but there is a chain. The sellers have put an offer on on an apartment, but it’s not been accepted yet, and have viewings of other apartments in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Poundbury. What do I do now? When do I get the mortgage application with Lloyds started?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is approx £1k, then valuation, Poundbury conveyancing search charges, etc). The first thing to do is check that your conveyancing practitioner is on the Lloyds conveyancing panel. Regarding the subsequent phase this very much dictated by the uniqueness of your case, attraction to the property and on the state of the market. During a rising market some buyers would apply for a home loan with Lloyds and pay for the valuation and only if it was satisfactory would they ask their lawyer to proceed with searches.
How does conveyancing in Poundbury differ for newly converted properties?
Most buyers of new build residence in Poundbury approach us having been asked by the developer to exchange contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Poundbury tend to purchase 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 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 Poundbury or who has acted in the same development.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a simple, no chain conveyancing. Poundbury is where the house is located. What do you suggest?
Flying freeholds in Poundbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Poundbury you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Poundbury 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.
I am thinking of appointing a conveyancing practitioner in Poundbury for my house move. Is it possible to check a firm’s record with the legal regulator?
Anyone can find presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.
I bought a flat in Poundbury last 19/11/2024 and to date it is still not recorded with HM Land Registry. It was part of a development site and my conveyancer told me that it can take 12 months to complete the registration formalities. I have contacted HM Land Registry directly and they say that the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
It is your property lawyer that you really need to contact in order to satisfy any questions which have arisen as part of the registration process for your Poundbury property. Normal Poundbury conveyancing practice includes an undertaking on the part of the seller's conveyancer that they will help resolve any question raised by HMLR so it may be a case of seeking to enforce that undertaking if necessary.