Our Bath lawyer has spotted a difference when comparing the surveyor’s assumptions in the valuation survey and what is in the conveyancing documents. My solicitor has advised that he is obliged to check that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions 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 both parties.
This question may be naive but I am unseasoned as a first time buyer of a garden flat in Bath. Do I collect the keys to the premises on completion from my lawyer? If so, I will appoint a local conveyancing solicitor in Bath?
On the day of completion you will not be required to go to the conveyancers office in Bath. Your solicitors will electronically transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the selling Agents and move into your new home. Usually this happens between 1 and 3pm.
Is it correct that all Bath CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing panel?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
We previously chose solicitors locally in Bath on the Nationwide solicitor panel. They have just billed me a separate amount for handling the Nationwide mortgage. Is this a supplemental conveyancing fee set by Nationwide?
Unfortunately, so long as it is in their Terms and Conditions or estimate then yes your conveyancer may levy a fee for this. The charge is not dictated by Nationwide but by your Bath lawyer. Some firms on the Nationwide panel will charge an ‘acting for lender’ fee but some firms include it on their overall fee.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Bath?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bath. 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…’
How does conveyancing in Bath differ for newly converted properties?
Most buyers of new build or newly converted property in Bath come to us having been asked by the builder to exchange contracts and commit to the purchase even before the residence is built. This is because developers in Bath 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 property lawyers 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 Bath or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I put an offer in last month in what was supposed to be a simple, chain free conveyancing. Bath is where the house is located. Can you offer any assistance?
Flying freeholds in Bath are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bath you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bath may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm remortgaging my current house to a buy to let mortgage with The Mortgage Works and I will use the rest of the raised equity towards another property. The neighborhood we are looking at is Bath. Will your lawyers be able to act for the two mortgage companies and tie in the two deals?
Make use of our search tool on this page to check that the conveyancers are approved by both lenders. Assuming that they are the solicitor will be able to simultaneously deal with the two deals but you should have a chat with you lawyer and make clear your desired outcome and requirements.