is it true that all Southampton conveyancing solicitors on the Coventry BS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Coventry BS approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Some banks do permit licenced conveyancers on their panel in which case such organisation would be regulated by the Council of Licensed Conveyancers.
I can not work out if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Southampton building society branch on a couple of occasions and was told it does not affect the mortgage offer and they will lend. My Southampton conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend in accordance with their published requirements. I simply don't know who is right.
Provided that the property lawyer is on the mortgage company approved list, they must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am selling my apartment. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Santander are being problematic. The Southampton solicitor who is on the Santander conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Should commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Southampton?
Its becoming the norm that commercial conveyancing solicitors in Southampton will conduct a SiteSolutions Highways report as it reduces the time that conveyancers expend in investigating accurate data on highways that impact buildings and development assets in Southampton. The search result sets out definitive data 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 Southampton.
For each commercial conveyancing transaction in Southampton 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 can cause delays to Southampton commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not carried out for residential conveyancing in Southampton.
I'm buying a new build house in Southampton with a loan from Nationwide Building Society. The builders refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not inform my solicitor about this deal as it will affect my mortgage with Nationwide Building Society. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I have been on the look out for a flat up to £305k and identified one close by in Southampton I like with a park and transport links in the vicinity, however it only has 61 years unexpired on the lease. There is not much else in Southampton for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be problematic. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least twenty four months you can ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.
Having had my offer accepted I require leasehold conveyancing in Southampton. Before I set the wheels in motion I would like to find out the remaining lease term.
If the lease is registered - and almost all are in Southampton - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Leasehold Conveyancing in Southampton - Examples of Questions you should consider Prior to Purchasing
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How many of the leaseholders are in arrears for their maintenance charge payments? The answer will be useful as a) areas may result in problems in the block as the common areas may begin to deteriorate if services are not paid for b) if the leaseholders have an issue with the managing agents you will wish to know about it Can you tell me if there are any major works anticipated that will increase the maintenance costs?
I am buying a house mortgage free. I have provided conveyancer with 2 separate evidence of photographic ID, bank statement, numerous utility bills. Now he requires a copy from a probate lawyer stating that the funds are in place and that it has come from inheritance and not dealing E's in Ibiza.
In today’s world you will not be able to complete any Southampton conveyancing transaction without first providing evidence of your identity to your lawyers. This usually takes the form of a either your passport or driving licence and a utility bill. Remember if you are providing your driving licence as evidence of ID it must be both the paper part and photo card part, one is not acceptable without the other. Evidence of your source of funds is required under Money Laundering laws.