I am purchasing a semi-detached house in Axminster. Can I do my own conveyancing?

Leaving aside the complexities and merits of DIY conveyancing in Axminster you will have to appoint a solicitor on your mortgage company's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Axminster.

My relative suggested that where I am buying in Axminster I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is sometimes included in the estimate for your Axminster conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Axminster around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Axminster Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Axminster.

I opted to have a survey done on a property in Axminster in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some mortgage companies may not grant a mortgage on such a house.

It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Axminster. Conveyancing will be smoother if you use a solicitor in Axminster especially if they are accustomed to such properties in Axminster.

Can you provide any top tips for leasehold conveyancing in Axminster from the point of view of speeding up the sale process?

• Much of the delay in leasehold conveyancing in Axminster can be avoided where you appoint lawyers the minute you market your property and ask them to collate the leasehold documentation which will be required by the buyers’ representatives.
If you are supposed to have a share in the freehold, you should ensure that you hold the original share document. Obtaining a replacement share certificate can be a time consuming process and slows down many a Axminster conveyancing transaction. If a duplicate share is required, do contact the company officers or managing agents (if relevant) for this as soon as possible. Many landlords or Management Companies in Axminster charge for providing management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management information can be applied for on or before finding a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Axminster. If you have had any disputes with your landlord or managing agents it is essential that these are resolved before the property is put on the market. The buyers and their solicitors will be reluctant to purchase a flat where there is a current dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the purchasers, but it is better to reveal the dispute as over as opposed to ongoing. A minority of Axminster leases require Licence to Assign from the landlord. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their solicitors.

Leasehold Conveyancing in Axminster - Sample of Queries Prior to Purchasing

How many of the leaseholders are in arrears for their maintenance charge payments? Does the lease have in excess of 82 years remaining?

My son is embarking on her first house purchase, he had his mortgage in principle. One the seller agreed the offer on the house we telephoned the mortgage institution to progress the mortgage application. We were shocked to learn that banks do not accept all conveyancer, they need to be on their approved list, is this correct?

Lenders ordinarily imposes restrictions either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Axminster lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.