My wife and I are acquiring a leasehold flat in Fishponds. My lawyer is not on the lender solicitor list. Is it possible for me to use my Fishponds conveyancing solicitor notwithstanding that they are excluded from the mortgage company panel?
You have a number of options available to you here
- Carry on with your existing Fishponds solicitor but your lender will no doubt instruct a lawyer from their conveyancing panel. This will result in additional fees and probable interruption.
- Appoint a new lawyer to conduct the conveyancing, making sure they are on the mortgage company conveyancing panel.
- Convince your solicitor to attempt to join the bank panel
In what way does my ID and proof of funds have anything to do with my conveyancing in Fishponds? Is this really warranted?
In order to comply with Money Laundering Regulations any Fishponds conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally dealt with by provision of a passport and an original bank statement or utility account evidencing where you reside.
In accordance with Money Laundering Regulations, conveyancers are obliged by law to validate not simply the ID of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this may result in your lawyer ending their relationship with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to inform the appropriate authorities should they consider that any monies received by them may contravene the Money Laundering Regulations.
We have agreed to purchase a house in Fishponds. A rare aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must comply with the conveyancing instructions outlined in Section 2 of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Principality where a lease fails to satisfy these provisions. The requirements relate to the installation of panels on properties nationwide and is not limited to Fishponds.
I'm at the point of viewing flats in Fishponds and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a home loan with UBS.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are seeking a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
After what feels like an age I have had an offer on a flat in Fishponds accepted, the sellers do however have an associated purchase. The vendors have offered on a property, however it’s not yet tied up, and are looking at other apartments booked. I have selected a nearby conveyancing solicitor in Fishponds. What do I do now? When should I get the mortgage application with Santander started?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (mortgage application is in the region of £1k, then survey, Fishponds conveyancing search charges, etc). The first thing to do is ensure that your property lawyer is on the Santander approved list. As to the next stages this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. In a rising market many buyers would apply for a home loan with Santander and arrange for the valuation and only if it comes back ok would they pay their conveyancing practitioner to proceed with searches.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial land in Fishponds?
Its becoming the norm that commercial conveyancing solicitors in Fishponds will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Fishponds. 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 Fishponds.
For every commercial conveyancing transaction in Fishponds it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may cause delays to Fishponds commercial conveyancing deals as well as pose a risk to future intentions for the site. These searches are not conducted for residential conveyancing in Fishponds.
I have been on the look out for a flat up to £195,000 and identified one round the corner in Fishponds I like with amenity areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Fishponds suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you need a home loan the shortness of the lease will likely be problematic. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should consult your conveyancing solicitor regarding this matter.
I am an executor of my recently deceased aunt’s Will, with a bungalow in Fishponds which is to be marketed. The bungalow has never been registered at HMLR and I'm advised that many buyers solicitors will insist that it is in place before they'll move forward. What's the mechanism for this?
In the situation that you have set out it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.