Unfortunately I am unable to travel far from Bournemouth. I would like to know the understand why all Bournemouth solicitors are not on all lender panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in lenders removing a number of firms off their panel of approved lawyers .
My wife and I have lately purchased a house in Bournemouth. We have since encountered a number of issues with the property which we suspect were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been carried out as part of conveyancing in Bournemouth?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Bournemouth. Conveyancing searches and investigations undertaken as part of the legal transfer of property are carried out to help avoid problems. As part of the legal transfer of property, the vendor fills in a document called a Seller’s Property Information Form. If the information turns out to be inaccurate, you could possibly take legal action against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Bournemouth.
At what point does exchange of contracts occur in residential conveyancing in Bournemouth and am I required to attend the conveyancers branch?
Where you are local to our conveyancing solicitors in Bournemouth you are invited in to sign contracts. However, the lender approved solicitors we recommend offer a nationwide conveyancing service and provide just as diligent and professional a job for you when communicating with you electronically. The executing of the contract is not the critical part. Signing on the dotted line is necessary for the firm to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Bournemouth)to be in the office at the appropriate time.
We are buying a detached bungalow in Bournemouth. We would like to an extension at the rear at the house.Will legal work on the property involve checks to ascertain if these alterations are permitted?
Your property lawyer will check the deeds as conveyancing in Bournemouth will sometimes identify restrictions in the title deeds which prohibit certain changes or necessitated the permission of a 3rd party. Some additions require local authority planning permissions and approval under the building regulations. Some areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these things with a surveyor ahead of any purchase.
I am the sole recipient of my late father’s will and I have everything in my name now, including the my former home in Bournemouth. The Bournemouth property was put into my name in October. I want to move. I do know about the CML six month 'rule', which means that my property ownership will be considered the same way as though I had purchased the house in October. Is the property unsalable for six months?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be caught by that. Some mortgage companies would take a pragmatic view as this clause primarily exists to capture subsales or the quick reselling of properties.
I currently have a mortgage with Clydesdale for my property in Bournemouth. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Clydesdale?
Clydesdale must be informed of your intention in advance of letting out your property as this is likely to be a breach of Clydesdale’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Clydesdale directly. It should not be necessary to do this via a Clydesdale conveyancing panel solicitor.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bournemouth?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Bournemouth. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a flat up to £305k and identified one near me in Bournemouth I like with open areas and station nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Bournemouth suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you require a home loan the shortness of the lease will likely be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you may request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.