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Recently asked questions about conveyancing in Southmead

My friend recommended that where I am purchasing in Southmead I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?

This is a search is sometimes quoted for as part of the standard Southmead conveyancing searches. It is not a small document of more than thirty pages, listing and setting out significant information about Southmead 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 demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Southmead Education with plans and statistics, Local Amenities and other useful data regarding Southmead.

It has been five months following my purchase conveyancing in Southmead completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?

The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.

How does conveyancing in Southmead differ for new build properties?

Most buyers of new build or newly converted property in Southmead contact us having been asked by the developer to exchange contracts and commit to the purchase even before the property is completed. This is because house builders in Southmead usually buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Southmead or who has acted in the same development.

I am using a search engine for the term conveyancing in Southmead it reveals many conveyancerslocally. With so much choice what is the best way to find the suitable conveyancer for the sale of my house?

The preferential method of choosing the right conveyancer is through a trusted testimonial, so ask friends and those you trust who have acquired a property in Southmead or the local estate agent or financial adviser. Costs for conveyancing in Southmead vary, so it's sensible to obtain a minimum of three fee estimates from varying types of conveyancers. Make sure that you clarify that the fees are fixed.

All being well we will complete the disposal of our £475,000 maisonette in Southmead next Monday. The managing agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Southmead?

For the majority of leasehold sales in Southmead conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :

    Completing conveyancing due diligence enquiries Where consent is required before sale in Southmead Copies of the building insurance and schedule Deeds of covenant upon sale Registering of the assignment of the change of lessee after a sale
Your conveyancer will have no control over the level of the charges for this information but the average costs for the information for Southmead leasehold premises is £350. For Southmead conveyancing transactions it is customary for the seller to pay for these costs. The landlord or their agents are under no legal obligation to answer such questions most will be willing to do so - albeit often at exorbitant prices where the fees bear little relation to the work involved. Unfortunately there is no law that requires fixed charges for administrative tasks. Neither is there any legal time frame by which they are obliged to supply the information.

I acquired a ground floor flat in Southmead, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Corresponding properties in Southmead with an extended lease are worth £185,000. The ground rent is £65 yearly. The lease finishes on 21st October 2081

With just 60 years remaining on your lease the likely cost is going to be between £20,000 and £23,000 plus costs.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs in the absence of comprehensive due diligence. Do not use this information in tribunal or court proceedings. There may be additional concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not take any other action placing reliance on this information before seeking the advice of a professional.

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