I do hope you can assist me. My Somerset solicitor is advising me that she is duty bound toconduct Somerset conveyancing searches becausethe firm are on the Santanderconveyancing panel. Is my lawyer correct?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a bank your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the Council of Mortgage Lenders’ Handbook requirements . Even if you were a cash buyer you would be ill advised not to carry out Somerset conveyancing searches.
Completed the sale of my flat in Somerset last October but the buyer keeps texting daily to say her conveyancer is waiting to hear from mylawyer. What are the post completion sale formalities now that I have sold?
Post completion of your sale your conveyancer is duty bound to send the transfer deeds and all supplemental paperwork to the buyer’s solicitors. If applicable, your solicitor should also confirm that the mortgage has been repaid to the buyers lawyers. There is unlikely to be post completion requirements just for conveyancing in Somerset.
We are aiming to move home in February. Should my conveyancing solicitor liaise with the removal company on the day of completion. As an aside, can you recommend a removal company in Somerset. Conveyancing firm was organised before I stumbled across this site.
On the day of completion you will need to pick up the keys from the estate agent however this can only be done after the previous owners lawyers advise the agent that they have the completion monies and the keys can be collected. After that you should inform the removal men that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can help you locate a conveyancing in Somerset or a lawyer that specialises in conveyancing in Somerset.
Is it the case that all Somerset solicitors on the Santander conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Santander approved list of solicitors they would need to be governed by the SRA. Many banks do allow licenced conveyancers on their panel and in that case the practice would be regulated by the Council of Licensed Conveyancers.
I have a mortgage with Principality for my property in Somerset. Conveyancing has been completed 12 months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval prior to renting your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel lawyer.
How does conveyancing in Somerset differ for newly converted properties?
Most buyers of new build or newly converted property in Somerset contact us having been asked by the developer to exchange contracts and commit to the purchase even before the house is finished. This is because developers in Somerset usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Somerset or who has acted in the same development.
If all goes to plan we aim to complete the sale of our £225,000 apartment in Somerset next week. The managing agents has quoted £396 for Certificate of Compliance, insurance certificate and 3 years service charge statements. Is the landlord entitled to charge an administration fee for a flat conveyance in Somerset?
Somerset conveyancing on leasehold flats usually involves the buyer’s solicitor sending questions for the landlord to address. Although the landlord is under no legal obligation to answer such questions the majority will be content to do so. They may charge a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The management information fee levied by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, without which the invoice is not strictly payable. In reality you have little choice but to pay whatever is requested of you should you wish to exchange contracts with the buyer.
I invested in buying a 1 bedroom flat in Somerset, conveyancing formalities finalised March 1996. Can you let me have an estimated range of the fair premium for a lease extension? Comparable flats in Somerset with over 90 years remaining are worth £175,000. The ground rent is £65 per annum. The lease comes to an end on 21st October 2083
With only 58 years remaining on your lease we estimate the price of your lease extension to range between £23,800 and £27,400 as well as plus your own and the landlord's "reasonable" professional fees.
The figure above a general guide to costs for renewing a lease, but we are not able to provide a more accurate figure in the absence of detailed investigations. You should not use the figures in tribunal or court proceedings. There may be additional concerns that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information before getting professional advice.
We are seeking to purchase a repression property in Somerset and the vendor require completion within a month. Can a solicitor complete in this timeframe? Would it be better to instruct a high street Somerset firm or an online organisation that professes to complete quickly?
Attend your Somerset shopping parade. Go in to 3 firms and ask to see a conveyancing solicitor for an estimate. Explain your situation and get a commitment on speed. Appoint the firm that comes across as most trustworthy. You need to choose a conveyancer on the list of conveyancers acceptable to your lender.