My husband and I are looking to acquire a house in Bedminster and have instructed a Bedminster conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Norwich and Peterborough Building Society have this morning contacted us to advise us that they have now hit a problem as our Bedminster lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Bedminster solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
In the event thatI was to buy a freehold homein Bedminster for cash and have no survey and no local authority searches how much should I expect to to save on my conveyancing in Bedminster?
Any savings you would make would be isolated to the Bedminster conveyancing searches. A conveyancing practitioner is required to do the vast majority of work - money laundering, communicating with your sellers conveyancing practitioner, SDLT submission, register the ownership etc. A marginal saving might be made by not needing to register a mortgage however it won't be a lot.
Will our solicitor be raising enquiries about flooding during the conveyancing in Bedminster.
Flooding is a growing risk for lawyers specialising in conveyancing in Bedminster. There are those who buy a house in Bedminster, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a various checks that can be initiated by the buyer or by their conveyancers which should give them a better appreciation of the risks in Bedminster. The conventional set of information given to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to discover whether the property has ever been flooded. In the event that flooding has previously occurred and is not notified by the seller, then a buyer may commence a compensation claim as a result of such an misleading response. A purchaser’s conveyancers will also commission an environmental report. This should reveal whether there is a recorded flood risk. If so, further investigations will need to be carried out.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Bedminster is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bedminster are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bedminster you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bedminster may determine 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 property.
I'm converting the mortgage on my existing house to a BTL mortgage with Lloyds TSB Bank and intend to use the remaining equity as a down payment on further house. The neighborhood we are talking about is Bedminster. Will your solicitors be able to act for both sets of banks and tie in the transactions?
Make use of our comparison tool on this page to check that the lawyers are approved by both banks. Assuming that they are your lawyer will be able to connect the two transactions but you should talk with you solicitor and make apparent your desired outcome and requirements.
In my capacity as executor for the will of my father I am selling a property in Neath but live in Bedminster. My conveyancer (approximately 250 miles from merequires that I sign a statutory declaration prior to the transaction finalising. Can you recommend a conveyancing lawyer in Bedminster who can attest this legal document for me?
strictly speaking you are not likely to need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Bedminster based