We are planning to acquire a flat and require a conveyancing solicitor in Hotwells who is on the Co-operative solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co-operative . We don't recommend any particular firms conducting conveyancing in Hotwells.
I am in the process of remortgaging my apartment in Hotwells, does my lawyer need to be on the Lloyds Conveyancing panel?
In theory, you could use a solicitor that is not on the Lloyds conveyancing panel, but Lloyds would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
What is the difference between a licensed conveyancer and conveyancing solicitor in Hotwells
There are many registered licenced Conveyancers in Hotwells and Solicitor practices in Hotwells to choose from We would stress that both are supervised by regulatory bodies with both specialising in the legal aspects of the home buying process. Both can deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
I can not work out if my lender requires a lease extension. I have called into my local Hotwells bank branch on numerous occasions and was told they are content with the situation and they will lend. My Hotwells conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend in accordance with their published requirements. I have no idea who is right.
Provided that the conveyancer is on the mortgage company approved list, she or he must adhere to the CML Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Our sealed bid on a property in Hotwells has been accepted, but there is a chain. The vendors have offered on a flat, however it’s not yet agreed to, and have viewings of other properties in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Hotwells. What should be my next step? At what point do I apply for the mortgage with Co-operative?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is in the region of £1k, then valuation, Hotwells conveyancing search costs, etc). The first thing to do is check that your property lawyer is on the Co-operative conveyancing panel. Concerning the next steps this very much depends on the uniqueness of your case, motivation for this property and on the state of the market. During a rising market many buyers would apply for the mortgage with Co-operative and pay for the valuation and only if it comes back ok would they request their conveyancer to move forward with the conveyancing in Hotwells.
I am buying my first flat in Hotwells benefiting from help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not reveal to my conveyancer about this side-deal as it could impact my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Are there any apps to help search for a Hotwells law firm on the Platform Home Loans Ltd conveyancing panel? I have wheels and am happy to travel upto 25miles to meet the conveyancer.
You can use the search on this page. Please select a mortgage company and your location and you will see a number of Hotwells conveyancing lawyers located nearest you. We have listed some Hotwells conveyancing firms towards the end of this page and you can call them to verify if they are on the Platform Home Loans Ltd approved list
I've recently bought a leasehold property in Hotwells. Am I liable to pay service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I purchased a split level flat in Hotwells, conveyancing was carried out July 2005. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Hotwells with a long lease are worth £197,000. The average or mid-range amount of ground rent is £55 per annum. The lease ends on 21st October 2080
With just 56 years unexpired we estimate the premium for your lease extension to span between £29,500 and £34,000 plus professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on a more accurate figure without more detailed due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you take any other action based on this information without first seeking the advice of a professional.