We were just about to sign contracts for a garden flat in Bedminster. We have hit a stumbling block. The mortgage offer with Santander expires on 21/11/2023 but the owners are suggesting a completion date of 23/11/2023. Can one extend the loan offer?
The best person to deal with your issue is your lawyer who should determine whether they corresponding with the bank, seller’s lawyers, property agents or conceivably all three taking into account what has happend in your transaction as of today.
My father advised me that in purchasing a property in Bedminster there could be a number of restrictions prohibiting external alterations to the property. Is this right?
We are aware of anumerous of properties in Bedminster which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Bedminster should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
is it true that all Bedminster solicitors on the Clydesdale conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be overseen by the SRA. The majority of lenders do allow licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Bedminster conveyancer on the Bank of Ireland panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I am purchasing a new build house in Bedminster with a loan from Norwich and Peterborough Building Society. The sellers refused to move on the price so I negotiated £7000 of additionals instead. The estate agent suggested that I not to tell my lawyer about this side-deal as it could put at risk my mortgage with Norwich and Peterborough Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Bedminster ahead of appointing solicitors. I have been told that there is a flying freehold element to the property. My surveyor advised that some lenders tend refuse to grant a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements from Halifax. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bedminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bedminster to see if the conveyancing costs will increase in light of this.
I was pointed in your direction by numerous selling agents in Bedminster to locate a property lawyer on your site. What’s the financial advantage for Estate Agents to recommend your services rather than another?
We refuse to offer any financial incentive for directing people our way. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.