My wife and I are looking to acquire a property in Bolsover and are in fact using a Bolsover conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Coventry Building Society have this morning contacted us to advise us that there is now an issue as our Bolsover solicitor is not on their approved list of lawyers. Please explain?
Where you are buying a property requiring a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Bolsover lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
I am remortgaging my home in Bolsover, does my lawyer have to be on the Yorkshire BS Conveyancing panel?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Despite weeks of looking the Title Certificate and documents to our home are lost. The conveyancers who did the conveyancing in Bolsover 10 years ago are no longer around. Will I be able to sell the house?
As long as the title is registered the details of your proprietorship will be recorded by HMLR under a Title Number. It is possible to execute a search at the Land Registry, locate your house and get up to date copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will also normally retain a file duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
I opted to have a survey carried out on a property in Bolsover ahead of appointing conveyancers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies may not grant a loan on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bolsover. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bolsover to see if the conveyancing will be more expensive.
I am selling my home. My past lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Bolsover if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Bolsover. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs with a minimum of fuss.
I work for a busy estate agent office in Bolsover where we have experienced a few flat sales put at risk as a result of leases having less than 80 years remaining. I have received conflicting advice from local Bolsover conveyancing solicitors. Please can you clarify whether the seller of a flat can commence the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Bolsover Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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The majority of Bolsover leasehold properties will have a service charge for the upkeep of the block invoiced by the freeholder. If you acquire the apartment you will have to meet this liability, usually periodically throughout the year. This may be anything from a couple of hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met yearly, this is usually not a large sum, say about £25-£75 but you need to check it because occasionally it can be many hundreds of pounds. Is anyone aware of any major works in the near future that will add a premium to the maintenance charges? It would be a good idea to investigate if there is anything that is prohibited in the lease. For example some leases prohibit pets being permitted in in a block in Bolsover. If you love the apartmentin Bolsover but your cat can’t move with you then you have a very difficult compromise.