Can you clarify what the consequences are if my lawyer’s firm is removed from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Bridport?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We are getting the release of further monies on our home loan from Principality as we wish to conduct a loft conversion to our house in Bridport. Are we obliged to choose a high street Bridport solicitor on the Principality conveyancing panel to deal with the legals?
Principality do not ordinarily require a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
My fiancee and I are in the process of looking at flats in Bridport and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a mortgage with Bank of Ireland.
It would be prudent to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. Given that you are taking out a mortgage with Bank of Ireland, ask your prospective lawyers if they are on the Bank of Ireland conveyancing panel otherwise they can't do the mortgage legal work.
The mortgage over my property is with Virgin Money for my property in Bridport. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Virgin Money?
You must advise Virgin Money before renting your property as this is likely to be a breach of Virgin Money’s mortgage conditions. In many cases banks or building societies 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 Virgin Money directly. It should not be necessary to do this via a Virgin Money conveyancing panel firm.
I need some fast conveyancing in Bridport as I am under pressure to complete within 4 weeks. A home loan is not required. Is it possible to avoid the conveyancing searches to save money and time?
If.Given you are are a cash purchaser you are at free not to do searches although no law firm would recommend that you don't. Drawing on years of experience of conveyancing in Bridport the following are instances of what can show up and therefore impact future saleability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
I am looking for a flat up to £245,000 and identified one round the corner in Bridport I like with amenity areas and transport links nearby, the downside is that it only has 51 years on the lease. There is not much else in Bridport suitable, so just wondered if I would be making a mistake buying a short lease?
Should you need a home loan the remaining unexpired lease term will be problematic. Reduce the price by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer about this matter.
What does commercial conveyancing in Bridport cover?
Bridport conveyancing for business premises incorporates a broad range of services, provided by regulated solicitors, relating to business premises. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.