The mortgage offer from HSBC for the refinancing of my 4 room garden flat is due imminently. Can you recommend a cheap conveyancing law firm in Bruton?
You have come to the wrong site to search for cut-price fees for conveyancing solicitors in Bruton. We can offer you cost effective conveyancing but our intention is not to advertise as being the cheapest. Resist the temptation to appoint organisations teasing you with £100 conveyancing in Bruton. At best, in deciding on low cost conveyancing, you will end up with what you pay for and at worst you will end up with a hefty uplift in extras and still not get the service you were looking for.
About to place a bid on a leasehold flat in Bruton. The property agents assure me that it is standard for flats in Bruton to have less than 75 years remaining. I am getting a mortgage with Nationwide Building Society. Is this going to be acceptable if the lease has 69 years to go.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are obtaining a mortgage then your lender may insist that the lease be extended before competition. Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 11/2/2019 the requirements read as follows :
Report to the issuing office if the lease term is shorter than that stated on the offer and has less than 100 years remaining. (There is no requirement to report if the lease term is lower than that stated on the offer but still has 100 years or more to run, or if the lease term is longer than that stated on the offer).
NEW BUILD PROPERTIES (includes office conversions)
The following are not acceptable:
- The unexpired lease term is less than 125 years on a new build flat or 250 years on a new build house (does not apply to Shared Ownership)
- Starting ground rent is more than 0.1% of the property value
The lease must be amended to comply with the above. If not the case cannot proceed. Please advise us where the case cannot proceed.
Ground rents and event fees:
Ground rent and other event fees must be reasonable at all times during the lease term. For example, it is acceptable for ground rent escalation to be linked to RPI (Retail Price Index) or a similar index and where this is the case we do not need to be advised. However, unreasonable multipliers of ground rent will not be permitted, for example, doubling every 5, 10 or 15 years. These must be referred to us and we will advise if our mortgage offer remains valid. If you are unsure as to whether the terms of a lease are unreasonable, please refer the details to us.
I decided to have a survey carried out on a house in Bruton prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some mortgage companies tend refuse to grant a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to telephone us we can investigate further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bruton. Conveyancing will be smoother if you use a solicitor in Bruton especially if they regularly deal with such properties in Bruton.
In my capacity as executor for the estate of my grandfather I am selling a house in Monmouth but I am based in Bruton. My lawyer (based 300 kilometers awayrequires that I sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Bruton who can attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are Bruton based
To what extent are Bruton conveyancing solicitors duty bound by the Law Society to issue clear conveyancing figures?
Inbuilt into the Solicitors Code of Conduct are specific rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their charges to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not intended as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, nevertheless, constitute the Law Society’s perspective of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Bruton or further afield.