My partner and I are acquiring a brand new duplex in Avonmouth and my solicitor is advising me that she is duty bound to the lender to reveal incentives from the builder. I am on a tight deadline to exchange contracts and I don't want to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Is it the case that all Avonmouth CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing panel?
Some major banks and building societies now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
I am currently in the process of buying my council flat in Avonmouth. I have a mortgage offer with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Clydesdale are being pedantic. The Avonmouth solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale 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.
It has been three months since my purchase conveyancing in Avonmouth completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. 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 property 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.
I've recently found out that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Avonmouth is the location of the property. Can you offer any advice?
Flying freeholds in Avonmouth are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Avonmouth you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Avonmouth may ascertain 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.
Do you have any advice for leasehold conveyancing in Avonmouth from the point of view of expediting the sale process?
- Much of the delay in leasehold conveyancing in Avonmouth can be bypassed where you appoint lawyers as soon as your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors. If you are supposed to have a share in the freehold, you should make sure that you are holding the original share certificate. Obtaining a re-issued share certificate can be a lengthy process and delays many a Avonmouth home move. If a new share is necessary, do contact the company officers or managing agents (if applicable) for this sooner rather than later. In the event that you altered the property did you need the Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Avonmouth state that internal structural alterations or installing wooden flooring necessitate a licence issued by the Landlord acquiescing to such works. Where you dont have the paperwork to hand do not contact the landlord without contacting your solicitor in advance. You believe that you know the number of years left on your lease but it would be advisable verify this by asking your conveyancers. A purchaser's conveyancer will be unlikely to recommend their client to where the remaining number of years is under 75 years. It is therefore essential at an early stage that you identify whether the lease term for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale.
Leasehold Conveyancing in Avonmouth - A selection of Queries Prior to buying
Are any of leasehold owners in arrears of their service charge liability? For many Avonmouth leaseholds the cost for major works are not included within maintenance charges, albeit that there some managing agents in Avonmouth ask leasehold owners to contribute towards a reserve fund created for the specific purpose of building a fund for larger works.