I am acquiring an apartment in Axbridge. My Conveyancer is not listed on the mortgage company conveyancing list. Am I still permitted to retain my Axbridge conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
You will need to appoint a conveyancing practitioner to deal with the legal work required when you require a loan to buy your property. The conveyancing practitioner will carry out all the relevant due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage paperwork is dealt with. You could appoint a Axbridge conveyancer of your choosing. However, if the conveyancing practitioner appointed is not on the bank approved list additional costs will be levied as separate legal representation will be need by the lender. Lender panel applications can be submitted, so provided your conveyancer has not previously sought membership they can do so.
The Axbridge conveyancing firm handling our Axbridge conveyancing has uncovered a difference when comparing the information in the valuation report and what is in the conveyancing documents. My solicitor informs me that he is duty bound to check that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s stance appropriate?
Your solicitor must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
At what point will exchange of contracts happen for domestic conveyancing in Axbridge and do I need to attend the conveyancers office?
If you are near to our conveyancing solicitors in Axbridge you are welcome to attend to sign documents. However, the law practices we work with provide a national conveyancing service and provide just as detailed and professional a job for you when dealing with you by post or email. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to address the formalities when the time is right, which will usually be very shortly after signing. The procedure is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Axbridge)to be in the office available at the end of the phone to exchange contracts.
We're in Axbridge, First time buyers purchasing with a mortgage (lender is TSB , and our solicitor is on the TSB conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the TSB conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My wife and I are buying a property in Axbridge. I might seem paranoid but how we can trust a conveyancer? At some point we will need to put funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the sole beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Axbridge. The Axbridge property was put into my name in September. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be considered the same way as if I'd bought the house in September. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. many banks would take a pragmatic view as this provision principally exists to capture the purchase and immediately sell or the quick reselling of properties.
I had an offer accepted on a property in Axbridge on 21/8/2025, valuation was booked 2 days after, received a clean bill of health. Solicitor instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to TSB and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the TSB conveyancing panel. Are TSB entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for TSB to deal with your lawyer's application to be on the TSB conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am on look out for some leasehold conveyancing in Axbridge. Before diving in I want to be sure as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Axbridge - then the leasehold title will always include the basic details 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 1st floor flat in Axbridge, conveyancing formalities finalised in 2009. Can you work out an approximate cost of a lease extension? Comparable flats in Axbridge with a long lease are worth £176,000. The average or mid-range amount of ground rent is £50 invoiced every year. The lease runs out on 21st October 2075
You have 50 years remaining on your lease we estimate the premium for your lease extension to be between £31,400 and £36,200 as well as costs.
The figure above a general guide to costs for extending a lease, but we cannot give you the actual costs without more detailed investigations. Do not use this information in tribunal or court proceedings. There may be additional issues that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.