The Weston super Mare conveyancing lawyers that I recently instructed on my purchase in Weston super Mare have suddenly closed. I chose them because I had to have a firm on the Leeds Building Society conveyancing panel and my preferred Weston super Mare lawyer was not. I gave my credit card details for them to take £195 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to assist.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Weston super Mare?
There are many registered licenced Conveyancers in Weston super Mare and Solicitor partnerships in Weston super Mare who can help with your conveyancing It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. Both can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
I am purchasing a property in Weston super Mare. A rare aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Barclays your lawyer must comply with the conveyancing instructions contained in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook includes minimum requirements for solar panel roof-space leases, and lawyers are required to report to Barclays where a lease does not comply with these requirements. The requirements relate to the installation of panels on properties in England and Wales and is not restricted to Weston super Mare.
I have a mortgage with Leeds Building Society for my property in Weston super Mare. Conveyancing was finalised a year ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
You must advise Leeds Building Society in advance of letting out your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will allow you to rent 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 Leeds Building Society directly. It should not be necessary to do this via a Leeds Building Society conveyancing panel firm.
4 months have gone by following my purchase conveyancing in Weston super Mare completed. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £215,000. 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 premises 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.
How does conveyancing in Weston super Mare differ for new build properties?
Most buyers of new build or newly converted property in Weston super Mare contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because new home sellers in Weston super Mare typically 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 property lawyers 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 Weston super Mare or who has acted in the same development.
I've recently bought a leasehold house in Weston super Mare. Am I liable to pay service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a studio flat in Weston super Mare, conveyancing having been completed in 1998. Can you let me have an estimated range of the fair premium for a lease extension? Corresponding flats in Weston super Mare with over 90 years remaining are worth £190,000. The ground rent is £45 charged once a year. The lease expires on 21st October 2087
With 62 years left to run the likely cost is going to range between £17,100 and £19,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of detailed investigations. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and you obviously should be as accurate as possible in your negotiations. Please do not take any other action placing reliance on this information without first seeking the advice of a professional.
I see that you have a search directory listing firms on the lender conveyancing panel. Do Weston super Mare conveyancing companies pay you a commission if I instruct them for my own house purchase?
We are a listing service only for law firms wishing to communicate if they are on the bank conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Weston super Mare.