Am I correct in assuming that the fact that my conveyancer in Bodmin is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Bodmin conveyancing firm and ask them why they are no longer on the approved list for your lender.
Our nephew is purchasing a house that has just been built in Bodmin with a home loan from Kent Reliance. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Does a directory service exist listing Leeds Building Society panel conveyancers in Bodmin on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association sites. A small selection of lenders make their panel listings viewable online. If you are seeking to appoint a Bodmin solicitor on the Leeds Building Society please make the most of our facility.
Completion of my remortgage has taken place for my property in Bodmin. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
Yorkshire BS have agreed my home loan in principle, my offer on a house in Bodmin has been agreed to, now what?
The estate agent will need to know who your solicitors are (be sure the conveyancers are on the bank’s panel). Telephone Yorkshire BS or the financial adviser and finish off any relevant documentation. Yorkshire BS will sellect a valuer who will get in touch with the estate agent or seller to arrange a slot for the valuation to occur. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Yorkshire BS will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Bodmin.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who conducted the conveyancing in Bodmin 5 years ago are no longer around. What are my options?
Gone are the days when you need to hold title original deeds to evidence that you own the land or property, given that the Land Registry have everything they need in a digital format.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Bodmin is where the house is located. What do you suggest?
Flying freeholds in Bodmin are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bodmin you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bodmin may decide 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 property.
I am attracted to a couple of flats in Bodmin both have in the region of fifty years remaining on the lease term. Will this present a problem?
There is no doubt about it. A leasehold apartment in Bodmin is a deteriorating asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the property. For most buyers and mortgage companies, leases with under 75 years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of premises with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bodmin conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that the agreed terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Leasehold Conveyancing in Bodmin - Examples of Questions you should ask before buying
-
It would be sensible to discover if there is anything that is prohibited in the lease. By way of example plenty of leases prohibit pets being permitted in certain buildings in Bodmin. If you love the propertyin Bodmin however your dog is not allowed to live with you then you have a very difficult compromise. Can you inform me if there are any major works anticipated that could add a premium to the service fees? Is there a share of the freehold?