I am acquiring a ground floor flat in Bristol. My property lawyer is not listed on the lender conveyancing list. Am I still permitted to retain my Bristol conveyancing solicitor notwithstanding that they are not on the lender approved list?
One must have a conveyancing practitioner to deal with the formalities if you need a loan to purchase your home. The solicitor will carry out all the necessary investigations on the property, ensuring that you’re registered as proprietor and ensure that all the necessary mortgage documentation is dealt with. One may instruct a Bristol solicitor of your choosing. Nevertheless, if the conveyancing practitioner appointed is not a member of the bank conveyancing panel further charges will be incurred as separate legal representation will be need by the mortgage company. Bank panel applications can be submitted, so provided your lawyer has not in the past applied for membership they can do so.
The Bristol conveyancing lawyers that just started acting on my house acquisition in Bristol have suddenly shut down. I chose them because I needed a solicitor on the UBS conveyancing panel and my previous Bristol lawyer was not. I paid them £170 on account. What are my options?
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 reasons beyond your control. Most sellers would 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 UBS 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 help.
Is it necessary to take out insurance to protect me from financial exposure to chancel repairs when buying a residence in Bristol?
Unless a prior acquisition of the house took place post 12 October 2013 you may take it that solicitors carrying out conveyancing in Bristol to continue to propose a a chancel search and or chancel repair liability insurance.
I decided to have a survey completed on a house in Bristol prior to appointing conveyancers. I have been advised that there is a flying freehold overhang to the house. My surveyor advised that some lenders may refuse to issue a loan on a flying freehold home.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. If you call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Bristol. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Bristol to see if the conveyancing will be more expensive.
What is the distinction between surveying and conveyancing in Bristol?
Conveyancing - in Bristol or anywhere in England and Wales - is the legal term given to transferring legal title of property from one person to another. It therefore includes the investigation of the title. Whether buying or selling, you should be aware of anything affecting the property such as proposals by government departments, illegal buildings, or outstanding rates. The conveyancer should conduct the appropriate searches and inquiries on the property. Surveying relates to the structure of a property itself. A surveyor will look at a house, flat and any outbuildings you are buying and will help you discover the condition of the building and, if there are problems, give you leverage for negotiating the buying price down or asking the vendor to remedy the problems before you move in.