We are purchasing a 3 bedroom apartment in Hotwells with a mortgage. We would like to retain our Hotwells lawyer, but the mortgage company advise she’s not on their "panel". It seems we have little option but to appoint one of the lender panel conveyancing practices or keep our Hotwells solicitor as well as pay for one of their panel ones to represent them. This seems very unfair; can we not require that the mortgage company use our Hotwells property lawyer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Hotwells conveyancing solicitor to apply to be on the conveyancing panel.
We are buying a property and require a conveyancing solicitor in Hotwells who is on the Clydesdale solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Clydesdale . We don't recommend any particular firms conducting conveyancing in Hotwells.
Are there restrictive covenants that are commonly identified as part of conveyancing in Hotwells?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Hotwells. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
We're FTB’s - agreed a price, but the selling agent has warned us that the vendor will only issue a contract if we use their preferred solicitors as they need a ‘quick sale’. We would rather use a high street conveyancer accustomed to conveyancing in Hotwells
We suspect that the seller is not behind this ultimatum. Should the seller desire ‘a quick sale', alienating a motivated purchaser is going to damage their objectives. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to go, with finances in place © you are chain free (d) you wish to move quickly (e)however you are going to instruct your preferred Hotwells conveyancing lawyers - not the ones that will provide the estate agent a referral fee or meet his conveyancing thresholds demanded by corporate headquarters.
Can you provide any top tips for leasehold conveyancing in Hotwells from the perspective of expediting the sale process?
- Much of the frustration in leasehold conveyancing in Hotwells can be reduced if you appoint lawyers as soon as you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ solicitors. A minority of Hotwells leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If you have carried out any alterations to the property would they have required Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Hotwells state that internal structural changes or laying down wooden flooring necessitate a licence issued by the Landlord approving such works. Where you fail to have the consents to hand you should not communicate with the landlord without contacting your lawyer before hand. If there is a history of any disputes with your landlord or managing agents it is essential that these are settled prior to the flat being marketed. The buyers and their solicitors will be reluctant to purchase a property where a dispute is unsettled. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You are still duty bound to disclose details of the dispute to the buyers, but it is better to reveal the dispute as over rather than ongoing.
I own a studio flat in Hotwells, conveyancing formalities finalised January 1997. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Corresponding properties in Hotwells with an extended lease are worth £175,000. The average or mid-range amount of ground rent is £65 yearly. The lease ends on 21st October 2078
With only 58 years unexpired we estimate the premium for your lease extension to range between £23,800 and £27,400 as well as professional fees.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before seeking the advice of a professional.