I am progressing with the sale of my flat in Bedminster and the EA has just text me to warn that the purchasers are appointing a new law firm. The excuse is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Bedminster ?
Banks have always had panels of law firms they are content to work with, but in the past few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks point to the increase in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any sway in the decision.
It is 10 years ago since I bought my house in Bedminster. Conveyancing solicitors have now been instructed on the sale but I am unable to locate the title deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be retained by your mortgage company or they could stored with the conveyancers who oversaw your purchase. Secondly the chances are that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Almost all conveyancing in Bedminster involves registered property but in the rare situation where your home is not registered it adds to the complexity but is not insurmountable.
What happens if my lawyer’s firm is expelled from the Kent Reliance Conveyancing panel ahead of completing my conveyancing in Bedminster?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Due to the advice of my in-laws I had a survey completed on a house in Bedminster ahead of instructing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some lenders will refuse to grant a mortgage on this type of home.
It varies from the lender to lender. Lloyds has different requirements from Halifax. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Bedminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bedminster to see if the conveyancing costs will increase in light of this.
My husband and I are new to the buying process - had an offer accepted, but the estate agent told us that the owners will only move forward if we instruct their recommended conveyancers as they are insisting on an ‘expedited deal’. We would rather use a high street solicitor with experience of conveyancing in Bedminster
It is improbable the sellers are behind this. Should the owner want ‘a quick sale', turning down a motivated purchaser is not the way to achieve this. Speak to the owners direct and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)but you intend to appoint your preferred Bedminster conveyancing lawyers - as opposed tothe ones that will give their estate agent a referral fee or hit his conveyancing thresholds demanded by HQ.
I own a leasehold flat in Bedminster. Conveyancing and Nottingham Building Society mortgage are in place. I have received a letter from someone saying they have taken over the reversionary interest in the property. Attached was a demand for arrears of ground rent dating back to 1991. The conveyancing practitioner in Bedminster who acted for me is not around. What should I do?
The first thing you should do is contact HMLR to be sure that this person is in fact the registered owner of the freehold reversion. There is no need to instruct a Bedminster conveyancing solicitor to do this as it can be done on-line for less than a fiver. You should note that regardless, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Bedminster Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
-
How long is the Lease? It would be prudent to discover as much as you can about the managing agents as they will either make your life much easier or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to daily issues such as the cleanliness of the common parts. Enquire of other people what they think of their management. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the appropriate party and precisely what it includes.