Am I correct in assuming that the fact that my solicitor in Bodmin is not on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume 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. Should you be concerned you should simply call the Bodmin conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
I have given 2 months notice to my current landlord and have to be out of my let out property in Bodmin by 14/12/2020. Conveyancing on my purchase has just started. How realistic is it to complete in a couple of weeks as don't want to have to find short term accommodation?
It is unwise to provide notice for your lease until exchange of contracts has taken place. Assuming that you have not previously done so, speak to your solicitor and urge them to they seek the assistance the owners lawyers, try to a target completion date that everyone will look towards
When will exchange of contracts take place for sale conveyancing in Bodmin and am I required to be at the lawyers office?
If you are round the corner to our conveyancing solicitors in Bodmin you are welcome to come in to sign contracts. That being said, the law practices we recommend offer a countrywide conveyancing service and provide just as detailed and professional a job for you when communicating with you electronically. The executing of the purchase agreement is not when everything is set in stone. A signed contract is necessary for the conveyancer to officially exchange when the time is right, which is ordinarily shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bodmin)to be in the office available at the end of the phone to exchange contracts.
About to purchase a new build apartment in Bodmin. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Bodmin
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan. Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I am looking for a leasehold apartment up to £195,000 and found one round the corner in Bodmin I like with open areas and station in the vicinity, however it only has 61 years on the lease. There is not much else in Bodmin in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
I'm refinancing my current house to a buy to let loan with Santander and I will use the ballance of the raised equity as a deposit on further house. The area we are talking about is Bodmin. Will your conveyancers be able to act for both sets of banks and tie in the transactions?
Do use our search tool on this page to check that the conveyancers are on the relevant lender panels. Assuming that they are the solicitor will be able to simultaneously deal with the two deals but you should talk with you conveyancer and specify your expectations and requirements.