My Bridport lawyer has spotted an inconsistency between the assumptions in the home valuation survey and what is in the conveyancing documents. My solicitor informs me that he is duty bound to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We have agreed to purchase a house in Bridport. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
As your lender is Nottingham your lawyer must comply with the formal requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease does not satisfy these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not limited to Bridport.
The formalities of my purchase has taken place for my property in Bridport. Conveyancing was a necessary evil but I would like to complain about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. We understand that complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My sealed bid on a detached house in Bridport has been agreed to, but there is a chain. The vendors have put an offer on on an apartment, but it’s not been accepted yet, and are looking at other flats booked. I have selected a nearby conveyancing solicitor in Bridport. What should be my next step? At what point should I apply for the mortgage with Coventry BS?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Bridport conveyancing search fees, etc). First, you should ensure that your conveyancer is on the Coventry BS approved list. Regarding the subsequent phase this very much depends on the specifics of your transaction, desire for this property and on the state of the market. In a rising market the majority of buyers will apply for a home loan with Coventry BS and arrange for the valuation and only if it was satisfactory would they ask their conveyancing practitioner to proceed with searches.
Me and my brother own a semi-detached Georgian house in Bridport. Conveyancing solicitor represented me and TSB. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bridport and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing practitioner who conducted the purchase.
I have been recommended by a couple of local selling agents in Bridport to select a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to offer your lawyers ahead of a competitor’s?
We don’t make any financial incentive for directing people to this site. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I've found a house that appears to tick a lot of boxes, at a great figure which is making it all the more appealing. I have subsequently found out that the title is leasehold rather than freehold. I would have thought that there are particular concerns purchasing a house with a leasehold title in Bridport. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Bridport are freehold and not leasehold. This is one of the situations where having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are buying in Bridport in which case you should be shopping around for a Bridport conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’sconsent to carry out changes to the property. You may also be required to pay a contribution towards the maintenance of the estate where the house is located on an estate. Your solicitor will report to you on the legal implications.
Bridport Leasehold Conveyancing - Sample of Queries before buying
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You should be aware if it is less than 80 years it will impact the marketability of the apartment. Check with your mortgage company that they are content with remaining years on the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you would be required to have owned the residence for 24 months in order to be entitled to extend the lease. Is the freehold owned collectively by the tenants? Are any of leasehold owners in dispute over their service charge liability?
My partner and I intend to acquire our first house in Bridport. Conveyancing lawyer has been instructed. The mortgage adviser advised that a survey is not appropriate as the property was only constructed 22 years ago.
You would be best advised to undertake a Home Buyer's Report. Given the property was constructed over a decade ago the property will not come with a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report could suffice. The report should highlight any apparent problems and recommend further investigation where relevant. If there are any indications of problems obtain a comprehensive Building Survey from the beginning.