My husband and I are buying a 2 bedroom apartment in Keynsham with a mortgage. We wish to retain our Keynsham conveyancer, but the mortgage company says he's not on their "panel". It appears that we have little option but to use one of the lender panel firms or keep our Keynsham lawyer as well as pay for one of their panel firms to act for them. We consider that this is inequitable; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. A further alternative is for your Keynsham conveyancing solicitor to apply to be on the conveyancing panel.
My nephew is about to exchange on a house that has just been built in Keynsham with a home loan from Co-operative. His solicitor has said that there is a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Co-operative conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Co-operative conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am downsizing from our property in Keynsham and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Keynsham lawyer would know this is not the case. It does beg the question why the buyers used an online conveyancing practice rather than a conveyancing solicitor in Keynsham. We have lived in Keynsham for 4 years we know of no issue. Do we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
It has been 4 months following my purchase conveyancing in Keynsham completed. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. 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 asset 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.
I am employed by a reputable estate agent office in Keynsham where we have experienced a number of flat sales jeopardised as a result of short leases. I have received inconsistent advice from local Keynsham conveyancing firms. Please can you confirm whether the seller of a flat can start the lease extension process for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the buyer can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, 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 buyer.
I inherited a studio flat in Keynsham, conveyancing was carried out half a dozen years ago. Can you give me give me an indication of the likely cost of a lease extension? Corresponding properties in Keynsham with a long lease are worth £179,000. The ground rent is £65 yearly. The lease expires on 21st October 2082
With 57 years left to run we estimate the price of your lease extension to range between £26,600 and £30,800 as well as costs.
The suggested premium range 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 comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be other concerns that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Neither should you move forward based on this information without first seeking the advice of a professional.
I happen to be an executor of my recently deceased mother’s Will, with a bungalow in Keynsham which is to be sold. The bungalow is unregistered at HMLR and I'm told that many buyers solicitors will insist that it is completed before they will proceed. What's the mechanism for this?
In the situation you refer to it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’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.