As someone not used to conveyancing in Cotham what is the number one tip you can give me concerning the ownership transfer in Cotham
Not many law firms or advisers will tell you this but conveyancing in Cotham and elsewhere in Bristol is often a confrontational experience. In other words, when it comes to conveyancing there is plenty of opportunity for confrontation between you and others involved in the transaction. For instance, the seller, estate agent and even potentially a bank. Selecting a law firm for your conveyancing in Cotham is a critical decision as your conveyancer is your adviser, and is the ONE person in the transaction whose interest is to look after your legal interests and to keep you safe.
On occasion a third party with a vested interest will try and convince you that you should follow their advice. For instance, the estate agent may claim to be assisting by suggesting your solicitor is wrong. Or your mortgage broker may advise you to do take action that is against your lawyers advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
My fiance and I wish to acquire a newly converted apartment in Cotham with a residential mortgage from Godiva Mortgages Ltd.We have a Cotham conveyancing lawyer but Godiva Mortgages Ltd says she’s not on their "panel". It seems we have no choice but to instruct a Godiva Mortgages Ltd panel firm or keep our high street solicitor and pay for a Godiva Mortgages Ltd panel lawyer to represent them. This seems very unfair; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The loan offered to you contains terms and conditions, one of which will be that conveyancers needs to be on the Godiva Mortgages Ltd conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Godiva Mortgages Ltd
Last month we had a mortgage agreed in principle with Clydesdale. Cotham conveyancing lawyers have been instructed. What is the average time that one could expect to receive a mortgage offer from Clydesdale?
There is no definitive answer here. Have Clydesdale conducted the valuation? Have you informed Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We expect to receive a DIP from Nottingham this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Cotham solicitors on the Nottingham conveyancing panel, or is it better to go independently?
You will need to appoint Cotham solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
At last I have had an offer on an apartment in Cotham accepted, but there is a chain. The sellers have offered on a property, however it’s not been accepted yet, and are looking at other apartments booked. I have chosen a high street conveyancing solicitor in Cotham. What should be my next step? At what stage do I apply for the mortgage with Santander?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx £1k, then valuation, Cotham conveyancing search costs, etc). First, you must ensure that your conveyancer is on the Santander conveyancing panel. Regarding the subsequent stages this very much depends on the circumstances of your case, attraction to the property and on the state of the market. During a hot market some purchasers will apply for a home loan with Santander and pay for the valuation and only if it comes back ok would they pay their conveyancer to press on with the conveyancing in Cotham.
I appreciate that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a property in Cotham? or I am told that there is historic law that could mean that homeowners residing in a parish church boundary may be liable to pay for maintenance to the chancel within the church. Is this appropriate for conveyancing in Cotham?
Unless a previous purchase of the premises completed after 12 October 2013 you may assume that solicitors conducting conveyancing in Cotham to continue to recommend a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what should have been a straight forward, no chain conveyancing. Cotham is where the house is located. Can you offer any assistance?
Flying freeholds in Cotham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cotham you must be sure that your lawyer goes 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 Cotham may determine 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 property.
Are there common problems that you witness in leases for Cotham properties?
Leasehold conveyancing in Cotham is not unique. All leases are individual and drafting errors can sometimes mean that certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
Service charge per centages that don't add up correctly leaving a shortfall Clauses dealing with recovering service charges for expenditure on the building or common parts.
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Nationwide Building Society, Barnsley Building Society, and Barclays Direct all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is problematic they may refuse to grant the mortgage, obliging the purchaser to pull out.
Cotham Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
The majority of Cotham leasehold properties will incur a service charge for the upkeep of the building invoiced by the landlord. Where you buy the property you will have to pay this contribution, normally periodically throughout the year. This could be anything from a few hundred pounds to thousands of pounds for large purpose-built blocks. There will also be a rentcharge to be met yearly, ordinarily this is not a exorbitant amount, say approximately £25-£75 but you need to check it because occasionally it can be many hundreds of pounds. On the whole the outlay for major works tend not to be built into the service charges, albeit that a few managing agents in Cotham require tenants to pay into a sinking fund and this is used to offset against larger repairs or maintenance. What prohibitions are contained in the Cotham Lease?