My husband and I are planning to buy a property in Bideford and have instructed a Bideford conveyancing practice. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barclays Direct have this morning contacted us to inform me that there is now an issue as our Bideford lawyer is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also act for the purchaser's lender. 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 Accreditation Scheme. Your solicitor should contact your lender 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 lender’s conveyancing panel as you are at liberty to use your preferred Bideford lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
In the event thatI was to acquire a simple residential homein Bideford mortgage fee and dispense with a survey and no conveyancing searches how much should I expect to have to pay for conveyancing in Bideford?
Any savings you would gain would be isolated to the disbursement for searches. A solicitor still got to do everything else - money laundering, correspond with your vendors solicitor, stamp duty return, register the title etc. A marginal saving might be made by not having to register a charge but it won't be a lot.
We're in Bideford, First time buyers buying with a mortgage (lender is Principality , and our lawyer is on the Principality conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Principality conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner 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.
What does a local search inform me about the house my wife and I purchasing in Bideford?
Bideford conveyancing often starts with the ordering local authority searches directly from your local Authority or through a personal search organisations such as PSG The local search is essential in every Bideford conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search should provide data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Bideford is where the house is located. Can you shed any light on this issue?
Flying freeholds in Bideford are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Bideford you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bideford 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 own a leasehold house in Bideford. Conveyancing and Barclays Direct mortgage organised. A letter has just been received from someone saying they have taken over the freehold. Attached was a demand for arrears of ground rent dating back to 1997. The conveyancing practitioner in Bideford who acted for me is not around. What should I do?
First make enquiries of HMLR to make sure that the individual purporting to own the freehold is indeed the registered owner of the freehold reversion. There is no need to instruct a Bideford conveyancing lawyer to do this as it can be done on-line for less than a fiver. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I bought a split level flat in Bideford, conveyancing was carried out in 1996. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable properties in Bideford with over 90 years remaining are worth £171,000. The ground rent is £50 yearly. The lease expires on 21st October 2104
You have 79 years remaining on your lease the likely cost is going to range between £8,600 and £9,800 as well as plus your own and the landlord's "reasonable" professional fees.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we are not able to provide the actual costs without more comprehensive due diligence. You should not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Please do not move forward placing reliance on this information without first getting professional advice.