Why do I have to pay up front for conveyancing in Southmead?
If you are buying a property in Southmead your solicitor will ask you put them with funds to cover the the cost of the conveyancing searches. This will be the total of the cost of the Local Authority Search. If any deposit is as part of the total price then this should be needed shortly prior to exchange of contracts. The final balance that is due should be sent to your lawyer a few days prior to the completion date.
Is there a search tool that I can utilise to investigate if the solicitor handling my conveyancing in Southmead is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Nationwide Building Society thus spending £187.00 plus VAT in additional legal charges.
You should take advantage of the search tool on this site. Please choose the lender and type ‘Southmead’ or your preferred area and you will see a number of lawyer based in Southmead or near you.
My uncle advised me that in purchasing a property in Southmead there could be various restrictions prohibiting external changes to the property. Is this right?
There are anumerous of properties in Southmead which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Southmead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My fiancee and I are in the process of viewing houses in Southmead and I am about to put in an offer. Should I already have a property lawyer appointed at this stage? I am planning to take a home loan with Leeds Building Society.
It would be wise to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are seeking a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
I currently have a mortgage with Coventry BS for my property in Southmead. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
You must advise Coventry BS prior to letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
We are one month into a residential purchase having been recommend to a firm by the estate agent to carry out the conveyancing in Southmead. I am am very disappointed with the quality of service. Could you help me find new lawyers?
A lawyer would have to be very bad to suggest replacing them. Has your mortgage been generated? In the event that it has you need to advise them of the new contact details and have the offer are issued to the new lawyers. Your new conveyancer needs to be on the banks panel to avoid supplemental fees and complications. So that should be your first question of the new lawyers. The find a solicitor tool will assist you in finding a lender approved lawyer for your home move in Southmead
I am on look out for some leasehold conveyancing in Southmead. Before diving in I would like to find out the unexpired term of the lease.
Assuming the lease is registered - and 99.9% are in Southmead - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I invested in buying a split level flat in Southmead, conveyancing was carried out July 1996. Can you give me give me an indication of the likely cost of a lease extension? Corresponding flats in Southmead with a long lease are worth £211,000. The ground rent is £45 yearly. The lease expires on 21st October 2088
With 67 years left to run we estimate the price of your lease extension to range between £10,500 and £12,000 plus costs.
The figure above a general guide to costs for extending a lease, but we cannot give you a more accurate figure without more comprehensive investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt other issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information before getting professional advice.