The Boscastle conveyancing lawyers that I appointed last week on my purchase in Boscastle have suddenly closed. I only went with them because I had to have a lawyer on the Lloyds conveyancing panel and my previous Boscastle lawyer was not. I paid them 275 plus VAT on account. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Lloyds conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
Does a directory service exist listing Coventry BS panel solicitors in Boscastle on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few lenders make their panel listings available online. If you are looking for a Boscastle property lawyer on the Coventry BS please use our tool.
I am buying a property in Boscastle. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Coventry BS your lawyer must comply with the formal requirements set out in Section 2 of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Coventry BS where a lease does not satisfy these requirements. The conditions relate to the installation of panels on properties nationwide and is not limited to Boscastle.
We were going to get a AIP from Nationwide this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Boscastle solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint Boscastle solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
I have been told that property searches are the primary reason for delay in Boscastle house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Searches are unlikely to feature in any slowing down conveyancing in Boscastle.
How does conveyancing in Boscastle differ for new build properties?
Most buyers of new build residence in Boscastle contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is ready to move into. This is because developers in Boscastle tend to acquire the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Boscastle or who has acted in the same development.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and found one round the corner in Boscastle I like with amenity areas and transport links nearby, the downside is that it's only got 51 years on the lease. There is not much else in Boscastle for this price, so just wondered if I would be making a grave error purchasing a short lease?
If you require a mortgage that many years may be an issue. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass 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 regarding this.
There are numerous properties in Boscastle on private lanes. I am purchasing one such house. Are there any benefits to purchasing a property on a private road?
Boscastle conveyancing solicitors are used to transacting homeson unadopted roads. Your property lawyer will investigate Land Registry data to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that proprietors pay into to maintain the road. Where one exists, the road should be maintained and look nicer than publicly maintained.