My fiance and I wish to acquire a purpose built flat in Bodmin with a residential mortgage from Bank of Ireland.We like our Bodmin conveyancing solicitor but Bank of Ireland says her practice is not listed on their "panel". we are left little option but to use a Bank of Ireland panel solicitor or retain our high street solicitor and fork out for a Bank of Ireland panel lawyer to act for them. This seems very unfair; Can we not simply insist that Bank of Ireland use our lawyer?
No, not really. The loan issued to you is subject to its terms and conditions, one of which will be that solicitors needs to be on the Bank of Ireland approved list. in the past, most banks had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Bank of Ireland
Will commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Bodmin?
Its becoming the norm that commercial conveyancing solicitors in Bodmin will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Bodmin. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bodmin.
For each commercial conveyancing transaction in Bodmin it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Bodmin commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Bodmin.
I have justfound out that Stirling Law have closed. They carried out my conveyancing in Bodmin for a purchase of a leasehold apartment 10 months ago. How can I be sure that my home is registered correctly in the name of the previous owner?
The quickest method to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Bodmin conveyancing specialists.
I am purchasing a new build house in Bodmin with a mortgage from The Royal Bank of Scotland. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not to tell my conveyancer about the side-deal as it will jeopardize my mortgage with The Royal Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Last December I purchased a leasehold flat in Bodmin. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I am the registered owner of a 1 bedroom flat in Bodmin, conveyancing having been completed in 2000. Can you give me give me an indication of the likely cost of a lease extension? Similar properties in Bodmin with a long lease are worth £260,000. The average or mid-range amount of ground rent is £50 per annum. The lease expires on 21st October 2101
With 75 years left to run the likely cost is going to be between £8,600 and £9,800 as well as costs.
The suggested premium range that we have given is a general guide to costs for renewing a lease, but we cannot give you a more accurate figure in the absence of detailed investigations. Do not use this information in tribunal or court proceedings. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. You should not take any other action based on this information before getting professional advice.
My brother mentioned that before selecting a conveyancing firm they need approved by your bank. I am new to the process but I have an offer in principle from Halifax and I already have a local conveyancing solicitor in Bodmin lined up. Does Santander insist on an approved conveyancer to be selected? Does a directory of panel solicitors even exist for my conveyancing in Bodmin?
You need to instruct a solicitor that is on the Santander panel. The first thing to do is call your preferred Bodmin conveyancing solicitor to check if they are on the Santander panel. If they are not on the panel you have a number of alternatives available to you here:
- Complete the purchase with your preferred Bodmin solicitor but Santander will need to instruct a solicitor from their approved list. The net impact is additional fees together with probable interruption.
- Get a fresh conveyancing practitioner to conduct the conveyancing, making sure they are on the Santander conveyancing panel.
- Convince your conveyancing practitioner to do everything within their powers to get accepted on the Santander conveyancing panel.