Is the fact that my solicitor in Burton Bradstock is not on my mortgage company's conveyancing panel that there is a problem with the quality of his work?
That would most likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (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 simply call the Burton Bradstock conveyancing practice and enquire why they are no longer on the approved list for your bank.
I'm spending time looking at flats in Burton Bradstock and I am now considering a potential offer. Is it too early to have a solicitor in place? I am planning to take a mortgage with HSBC.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. Given that you are obtaining a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Burton Bradstock bank branch on various occasions and was told they are content with the situation and they would lend. My Burton Bradstock conveyancing solicitor - who is on the lender conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the property lawyer is on the mortgage company approved list, she or he must follow the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After what seems like an age I have had an offer on a maisonette in Burton Bradstock agreed to, the owners do nevertheless have a dependent purchase. The owners have offered on a flat, however it’s not yet tied up, and have viewings of other flats booked. I have instructed a bricks and mortar conveyancing solicitor in Burton Bradstock. What should be my next step? At what stage do I apply for the mortgage with Co-operative?
It is usual to have apprehensions where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then survey, Burton Bradstock conveyancing search fees, etc). First, you should check that your conveyancer is on the Co-operative approved list. Concerning the subsequent steps this very much depends on the specifics of your case, desire for this property and on the state of the market. In a buoyant market some home buyers would apply for a home loan with Co-operative and arrange for the valuation and only if it was satisfactory would they pay their lawyer to press on with searches.
Just had an offer accepted on a new build flat in Burton Bradstock. Conveyancing is daunting 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.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Burton Bradstock
Please confirm the Lease plans are architect prepared. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Burton Bradstock is where the house is located. Can you offer any guidance?
Flying freeholds in Burton Bradstock are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Burton Bradstock you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Burton Bradstock may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have just appointed agents to market my ground floor flat in Burton Bradstock. Conveyancing is yet to be initiated, but I have just received a yearly maintenance charge invoice – what should I do?
The sensible thing to do is discharge the invoice as you normally would as all ground rent and maintenance payments will be apportioned on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Burton Bradstock Leasehold Conveyancing - Examples of Queries before buying
It is important to be aware whether fixing the lift or some other major work is coming up that will be shared between the leaseholders and will materially increase the the maintenance charges or necessitate a specific payment. Is anyone aware of any major works on the horizon that could add a premium to the maintenance charges?