Is the fact that my conveyancer in Bristol is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of her work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Bristol conveyancing firm and enquire why they are no longer on the approved list for your lender.
The owners have rather pushy vendors who has insisted on a preliminary contract with a down payment two thousand pounds. Are such agreements sensible?
There are two main concerns with executing a lock out contract (also referred to as a no-shop agreement) is that it can distract from progressing with the conveyancing transaction itself, so unless it requires little or no negotiation then it could turn out to be a cause of frustration and delay. It is not promoted amongst Bristol conveyancing lawyers for this reason. A further concern is the extent of the remedies available - a jilted purchaser is very unlikely to secure an injunction to prohibit the owner completing the sale to a third party, so the only remedy available under the agreement will be the recovery of wasted charges and, in limited scenarios, the extra payment of penalties.
Is there a list of Virgin Money panel conveyancers in Bristol on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lending institutions make their panel listings open the public over the internet. If you are in need of a Bristol lawyer on the Virgin Money please make the most of our facility.
Two weeks ago we had a mortgage agreed in principle with TSB. Bristol conveyancing practitioners have been appointed. What is the average time that one could expect to receive a mortgage offer from TSB?
Some lenders take longer than others. Have TSB done the survey? Have you informed TSB as to your lawyers' details and checked that your lawyers are on the TSB conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Intending to buy a flat in Bristol. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bristol lawyer is on the Bank of Ireland conveyancing panel.
I completed on my home on 7 October and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Bristol expressed confidence that it will be dealt with in a couple of weeks. Are titles in Bristol uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Bristol registration formalities. As opposed to being determined by geographic area, timescales can vary according to the party submitting the application, whether it is in order and whether the Land registry have to notify any other persons or bodies. At present approximately 80% of such applications are fully addressed within two weeks but occasionally there can be longer delays. Registration takes place once the buyer has moved in to the premises so an expedited registration is not typically top priority but where it is urgent that the the registration takes place urgently then you or your lawyers should communicate with the Registry to express the reasoning for an expedited registration.
The estate agent has sent us the confirmation of our purchase of a new build flat in Bristol. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Bristol
Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.