What happens if my lawyer’s firm is suspended from the Nottingham Solicitor panel ahead of completing my conveyancing in Bristol?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am buying my first flat in Bristol with a loan from TSB. The builders refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not to tell my solicitor about the side-deal as it may impact my loan with TSB. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Bristol is the location of the property. What do you suggest?
Flying freeholds in Bristol are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bristol you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bristol may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am selling my house. My previous solicitors have shut. It would be helpful to have a recommendation of a conveyancing firm. I happen to live in Bristol if that makes a difference.
Please use our search tool to help you choose a solicitor for your conveyancing in Bristol. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move goes smoothly.
I have just started marketing my basement apartment in Bristol. Conveyancing is yet to be initiated, however I have just had a yearly service charge demand – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the service charge as usual given that all rents and service invoices will be allotted on completion, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
I acquired a garden flat in Bristol, conveyancing was carried out half a dozen years ago. How much will my lease extension cost? Comparable flats in Bristol with a long lease are worth £195,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2089
With only 63 years unexpired the likely cost is going to range between £16,200 and £18,600 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to supply a more accurate figure without more comprehensive investigations. You should not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be considered and clearly you should be as accurate as possible in your negotiations. You should not move forward placing reliance on this information before getting professional advice.
Two months into buying a property in Bristol. Conveyancing lawyer has told us the title is "Leasehold". Will this likely impact our Natwest valuation?
Bristol conveyancing does not in most situations involve leasehold houses. The crucial consideration here is the unexpired lease term and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's essentially freehold, so it’s unlikely to affect the value significantly.
At the other end of the spectrum, if it's, say, fifty five years it is bound to have a significant effect on the saleability, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be specified in the lease which should be made available to your solicitor.