My wife and I are about to complete buying a house in Hotwells but as a result of wreckage from some water damage at the property I have managed to agree compensation from the current proprietors in the sum of £3k in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet RBS are not allowing this. Why were they notified?
Your solicitor being on the RBS approved list is obliged to disclose to RBS of any variations to the sale price. If you were to refuse your conveyancer to disclose the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new solicitor for your conveyancing in Hotwells.
We are due to move home in September. Does my conveyancing solicitor call the removal company on the day of completion. As an aside, can you suggest a removal company in Hotwells. Conveyancing solicitor was organised before I stumbled across this site.
On the day of completion you will need to collect the house keys from the property agent but this can only take place when the previous owners conveyancers confirm to the agent that they have the completion monies and the keys can be passed over. Subsequently you will need to tell the removal company that they can start moving you in. As a matter of policy we do not suggest a particular removal organisation but can assist you in choosing a residential property solicitor in Hotwells or a solicitor with expertise in conveyancing in Hotwells.
Are all Hotwells Conveyancing Quality Solicitors on the Clydesdale conveyancing list of approved practices?
It is true that some banks and building societies now utilise CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
I had a mortgage agreed in principle with Virgin Money. Hotwells conveyancing practitioners have been selected. How long does it take for Virgin Money to send the offer to the lawyer?
Some lenders take longer than others. Have Virgin Money completed the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The deeds to my house can not be found. The solicitors who did the conveyancing in Hotwells 10 years ago no longer exist. What do I do?
In today’s world there are copies made of almost everything, and your lawyer should be aware precisely where to locate all the relevant documentation so you can purchase or sell your property without any difficulty. If duplicates can’t be found, your lawyer may be able to arrange cover in the form of insurance or indemnities against possible claims on the property.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. Hotwells is where the house is located. Can you shed any light on this issue?
Flying freeholds in Hotwells are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hotwells you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hotwells may decide 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 residence.
We are a fortnight into a leasehold purchase having been recommend to conveyancers by the high street agent to carry out the conveyancing in Hotwells. I am not happy. Can you you assist me in finding new conveyancers?
They would have to be very poor to suggest replacing them. Has the mortgage been issued? In the event that it has you will need to advise them of the new conveyancer and ensure the mortgage documents are issued to the new lawyers. Your new solicitor ideally needs to be on the banks approved list to avoid escalating charges and delays. So that should be your first question of the new solicitors. Our search tool should help you find a bank approved lawyer for your conveyancing in Hotwells
I am employed by a reputable estate agent office in Hotwells where we see a number of flat sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Hotwells conveyancing solicitors. Could you shed some light as to whether the vendor of a flat can commence the lease extension formalities for the buyer?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
I own a ground floor flat in Hotwells, conveyancing formalities finalised 9 years ago. Can you please calculate a probable premium for a statutory lease extension? Similar properties in Hotwells with a long lease are worth £197,000. The ground rent is £55 levied per year. The lease comes to an end on 21st October 2081
With just 56 years unexpired the likely cost is going to range between £29,500 and £34,000 as well as professional fees.
The figure that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive due diligence. You should not use the figures in tribunal or court proceedings. There are no doubt additional concerns that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.