My partner and I are hoping to acquire a flat in Cotham and are in fact using a Cotham conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Barnsley Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Cotham lawyer is not on their conveyancing panel. Is this a problem?
Where you are buying a property needing a mortgage it is normal for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Cotham lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
A friend suggested that where I am purchasing in Cotham I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Cotham conveyancing searches. It is a large report of about 40 pages, listing and setting out important information about Cotham around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful data concerning Cotham.
I am buying a new build apartment in Cotham. 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 few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Cotham
Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the advice of my in-laws I had a survey completed on a house in Cotham in advance of instructing solicitors. I have been informed that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may not grant a mortgage on such a premises.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cotham. Conveyancing will be smoother if you use a solicitor in Cotham especially if they are acquainted with such properties in Cotham.
How does the Landlord & Tenant Act 1954 affect my commercial premises in Cotham and how can your lawyers assist?
The 1954 Act gives a safeguard to commercial tenants, granting the a statutory right to apply to court for a new lease and continue in occupation when the lease comes to an end. There are limited grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Cotham