Why is leasehold purchase conveyancing in Southmead costs more?
Southmead leasehold properties involve far more paperwork than a freehold purchase, and therefore takes more time to examine and advise upon.Conveyancing will involve the lease having to be checked which is usually a lengthy document, queries raised to ensure that the covenants and conditions have been observed. If it is a flat there will be a management company in existence and the accounts of this will need to be checked and enquiries raised to ensure it is operating efficiently and that all monies due have been paid by the Seller to the company and if not ensuring that money is paid up to date or the appropriate undertakings obtained.
Are the BSA intent on creating a search tool with a view to to identify solicitors on the Norwich and Peterborough Building Society conveyancing panel for example in Southmead?
We are not aware of any plans on the part of the BSA to promote such a search facility.
I have today made my last payment due on my mortgage with Aldermore. I assume I don't need a Southmead property lawyer on the Aldermore panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Aldermore mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Aldermore mortgage from the register. Aldermore, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Aldermore has sent the Land Registry the discharge electronically, and
- Aldermore has instructed the Land Registry to do so
I can not work out if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Southmead bank branch on various occasions and was told they are content with the situation and they will lend. My Southmead conveyancing solicitor - who is on the lender conveyancing panel- telephoned to say that they refuse to lend in accordance with their specific requirements. Who do I believe?
Provided that the lawyer is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I recently had an offer agreed on a house in Southmead. My financial adviser pressured me to appoint their lawyer. I paid an advanced payment of £150. A few days later, the solicitor contacted me sheepishly admitting that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Southmead is where the house is located. What do you suggest?
Flying freeholds in Southmead are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Southmead you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Southmead may determine 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 premises.
I am 3 weeks into a freehold purchase having been referred to conveyancers by the selling agent to carry out the conveyancing in Southmead. I am am extremely frustrated with the quality of service. Can you help me find new solicitors?
They would need to be very bad to suggest replacing them. Has the loan offer been generated? If so you need to advise them of the new contact details and ensure the offer are re-sent. The solicitor ideally needs to be on the banks panel to avoid supplemental expenses and complications. That should be your first question of the new conveyancers. Our find a solicitor tool should assist you in finding a lender approved conveyancer for your home move in Southmead
I have recently placed an offer on an apartment in Southmead and the mortgage adviser that we are dealing with suggested his lawyer. He quoted £900 plus VAT and 3rd party costs. Does this sound reasonable?
Don't just go on one quote. You should obtain like-for-like quotes for your conveyancing in Southmead. Then choose one that you trust and crucially, is on the approved list of the lender that you are sourcing your mortgage from.