We wanted to use a property lawyer in Chipping Sodbury for our home move. Our financial adviser informed us that our mortgage company Platform Home Loans Ltd won't deal with them. Why is this not regarded as unduly restrictive?
A decade ago most banks had a different appetite for risk. Almost all Chipping Sodbury conveyancing firms would have been on most bank panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms regarding their operations and their employees and set certain criteria such a completing on a minimum volume of transactions. Many Chipping Sodbury conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Chipping Sodbury is amongst the many locations where the conveyancers we list are on the panel for Platform Home Loans Ltd.
Will commercial conveyancing searches reveal impending roadworks that may impact a commercial site in Chipping Sodbury?
Many commercial conveyancing solicitors in Chipping Sodbury will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Chipping Sodbury. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Chipping Sodbury.
For every commercial conveyancing transaction in Chipping Sodbury it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can cause delays to Chipping Sodbury commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Chipping Sodbury.
I am buying a new build house in Chipping Sodbury with the aid of help to buy. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not reveal to my lawyer about the deal as it may adversely affect my loan with the bank. Is this normal?.
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 need to instruct a conveyancing solicitor in Chipping Sodbury for my sale. Can I review a solicitor's complaints history with the profession’s regulator?
You can search for documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator may recorded call for training reasons.
I am tempted by the attractive purchase price for a couple of maisonettes in Chipping Sodbury which have approximately 50 years left on the lease term. should I be concerned?
There are plenty of short leases in Chipping Sodbury. The lease is a legal document that entitles you to use the premises for a prescribed time frame. As a lease shortens the value of the lease decreases and results in it becoming more expensive to extend the lease. For this reason it is often a good idea to increase the term of the lease. Sometimes it is difficult to sell a property with a short lease as mortgage lenders may be unwilling to lend money on properties of this type. Lease enfranchisement can be a difficult process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this field.
I acquired a 2 bed flat in Chipping Sodbury, conveyancing was carried out December 2006. Can you let me have an estimated range of the fair premium for a lease extension? Comparable properties in Chipping Sodbury with over 90 years remaining are worth £222,000. The ground rent is £50 yearly. The lease ends on 21st October 2091
You have 70 years left to run we estimate the price of your lease extension to range between £9,500 and £11,000 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we are not able to provide a more accurate figure in the absence of comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues 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 without first seeking the advice of a professional.
Our estate agent has recommended their lawyer for the conveyancing in Chipping Sodbury - won’t it be advisable to just use them?
This is not necessarily the case and you are at liberty to opt for whichever lawyer you prefer for your Chipping Sodbury conveyancing. The property lawyer suggested by a 3rd party adviser may not necessarily be the right lawyer, they may recommend their preferred conveyancing firm who are based far away. In this instance you may not have contact with your property lawyer and due to the lack of continuity in the transaction, it may be difficult to obtain updates.