Having been told to check out your company we were about to go ahead with a conveyancing solicitor in Bristol listed on your site but have come across alternative estimates on the internet look cheaper – why is this?
There are plenty of solicitors promoting so-called cheap conveyancing, but supplementalcosts result in the final bill being inflated. Solicitors are duty bound to ensure charges listed in terms of business should be transparent and reasonable invoiced The solicitors that we put forward for conveyancing in Bristol genuinely set out all costs for a domestic conveyancing case.
My brother and I have lately purchased a property in Bristol. We have noticed several problems with the property which we suspect were omitted in the conveyancing searches. Is there anything we can do? What searches should? have been carried out for conveyancing in Bristol?
The question is vague as what problems have arisen and if they are relate to conveyancing in Bristol. Conveyancing searches and due diligence initiated as part of the buying process are supposed to help avoid problems. As part of the legal transfer of property, the vendor fills in a document referred to as a SPIF. answers turns out to be incorrect, then you may have a claim against the vendor 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 Bristol.
The formalities of my purchase has taken place for my property in Bristol. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
All lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. We understand that complaints to a lender are resolved very quickly. 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.
I can not work out if my bank requires a lease extension. I have called my Bristol building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Bristol conveyancing solicitor - who is on the lender conveyancing panel- called to say that they would not lend based on their published requirements. I simply don't know who is right.
The property lawyer has to comply with the Council of Mortgage Lenders’ Handbook section two provisions for your lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my apartment. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, TSB are being pedantic. The Bristol solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I'm buying my first flat in Bristol with the aid of help to buy. The builders refused to budge the amount so I negotiated £7000 of additionals instead. The house builders rep suggested that I not inform my solicitor about this side-deal as it would put at risk my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been on the look out for a leasehold apartment up to £195,000 and identified one near me in Bristol I like with amenity areas and station nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Bristol in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a home loan that many years will likely be an issue. Discount the price by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
I am tempted by the attractive purchase price for a two apartments in Bristol both have approximately forty five years left on the lease term. Will this present a problem?
There is no doubt about it. A leasehold flat in Bristol is a deteriorating asset as a result of the shortening lease. The nearer the lease gets to zero years unexpired, the more it reduces the marketability of the property. For most purchasers and mortgage companies, leases with less than eighty years become less and less marketable. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the premises for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Bristol conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. A more straightforward and quicker method of extending would be to contact your landlord directly and sound him out on the prospect of extending the lease. You may find he or she is happy to negotiate informally and willing to consider your offer straight off, without having to involve anyone else. This will save you time and money and it could help you reach a lower price on the lease. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
I inherited a 1st floor flat in Bristol, conveyancing having been completed 4 years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Similar properties in Bristol with an extended lease are worth £206,000. The ground rent is £45 invoiced annually. The lease runs out on 21st October 2091
You have 66 years remaining on your lease we estimate the price of your lease extension to span between £11,400 and £13,200 as well as professional fees.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we are not able to advice on the actual costs in the absence of detailed due diligence. Do not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information without first seeking the advice of a professional.