I'm in the process of swapping over from my existing standard mortgage to a Buy to Let Chelsea Building Society mortgage. The bank has said that I require a lawyer for this. I had a chat my past Bristol conveyancing firm who acted on my behalf when I initially bought the property. The fee estimate provided of £470 is surprising as I am not require purchase conveyancing - it’s just a bog-standard refinance.
The charges appear a bit high. If you you were to look around you could trim some of the cost by as much as £125. On the other hand, providing that you were content with the legal work the firm provided you couldlive to rue opting for an an untested lawyer. Remember to check the conveyancer can represent Chelsea Building Society. Do make use of our search tool to choose a Bristol conveyancing firm on the Chelsea Building Society approved list of lawyers, which can often include conveyancing solicitors in Bristol.
I am buying a semi-detached house in Bristol. How practical is it for me to do the conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Bristol you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Bristol.
three months have gone by since my purchase conveyancing in Bristol concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, no chain conveyancing. Bristol is the location of the property. Can you shed any light on this issue?
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 would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bristol may ascertain 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 need to appoint a conveyancing solicitor for remortgage conveyancing in Bristol. I happened to discover a site which seems to have the perfect answer If it is possible to get all this stuff completed via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I am hoping to complete next month on a studio apartment in Bristol. Conveyancing solicitors inform me that they will have a report out to me next week. What should I be looking out for?
Your report on title for your leasehold conveyancing in Bristol should include some of the following:
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What the implications are if you are in breach of your lease terms? Whether the lease restricts you from letting out the property, or having a home office for business The total ownership of the premises. This could be the property itself but might include a roof area or cellar if applicable. You should be informed what is to be regarded as a Nuisance as far as the lease is concerned The unexpired lease term. You should be advised as what happens when the lease ends, and aware of the importance of not letting the lease term falling below eighty years
I invested in buying a studio flat in Bristol, conveyancing formalities finalised half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Bristol with a long lease are worth £190,000. The average or mid-range amount of ground rent is £65 invoiced every year. The lease comes to an end on 21st October 2086
With only 61 years remaining on your lease the likely cost is going to be between £18,100 and £20,800 plus legals.
The figure that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure without more detailed investigations. Do not use the figures in tribunal or court proceedings. There are no doubt other concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Neither should you move forward placing reliance on this information before seeking the advice of a professional.