My fiance and I are hoping to purchase a house in Southmead and have appointed a Southmead conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Coventry Building Society have this evening contacted us to advise us that there is now an issue as our Southmead lawyer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Southmead solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
I am buying a property without a mortgage in Southmead. I have resided for the last 15 years in Southmead. Conveyancing searches are a lot of money. Given that I know the road and vicinity intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Southmead conveyancing searches are non-obligatory. Your lawyer will 'advise', no-doubt strongly, that you should have searches done, but he has a professional duty to do this. Do consider; if you are intend to dispose of the house in the future, it will likely be be of importance to your future buyer what the searches reveal. There are plenty of instances where properties with apparent issues can still reveal detrimental search results. A good conveyancing solicitor in Southmead should be able to give you some constructive advice here.
Is it the case that all Southmead CQS (Conveyancing Quality Scheme) solicitors are on the Co-operative conveyancing panel?
Some major lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Coventry BS are being difficult. The Southmead solicitor who is on the Coventry BS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Coventry BS are requiring a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
TSB have agreed my mortgage in principle, my bid on a apartment in Southmead has been accepted, now what?
The estate agent will want to know who your solicitors are (ensure that the lawyers are on the bank’s panel). Telephone TSB or your broker and finish off any appropriate paperwork. TSB will sellect a valuer who will get in touch with the estate agent or vendor to book a slot for the valuation to happen. Once carried out (assuming no problems) it takes approximately a week to get a mortgage offer. TSB will issue the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Southmead.
I have todaybecome aware that Action Conveyancing have closed. They conducted my conveyancing in Southmead for a purchase of a freehold house 10 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest way to see if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Southmead conveyancing specialists.
About to purchase a new build flat in Southmead. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Southmead
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are architect prepared. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
I want to rent out my leasehold apartment in Southmead. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Southmead do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably refuse but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Southmead Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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On the whole the cost for major works are not included within service charges, albeit that some managing agents in Southmead obliged leasehold owners to contribute towards a reserve fund created for the specific intention of building a fund for larger works. Best to be warned if fixing the lift or some other significant cost is due shortly to be shared by the leasehold owners and will dramatically impact the level of the service costs or result in a specific payment. It would be prudent to enquire if there is anything that is prohibited in the lease. For instance plenty of leases prohibit pets being permitted in certain buildings in Southmead. If you like the propertyin Southmead however your dog is not allowed to make the move with you then you will be presented with a hard decision.