I have given 2 months notice to my existing landlord and have to be out of my rented property in Bodmin by 16/3/2026. Conveyancing on my purchase is underway. How realistic is it to complete in 4 weeks as I wish to avoid having to move into short term accommodation?
Generally one should not serve notice for your letting unless your lawyer suggests that you should. If you have not already done so, notify to your solicitor and request that they apply pressure on the sellers lawyers, try to an acceptable time-line that everyone will aim to achieve
In what way does my ID and proof of funds have anything to do with my conveyancing in Bodmin? Why is this being asked of me?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Bodmin. However these days you will not be able to complete any conveyancing process without first supplying proof of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Please note that if you are supplying your driving licence as proof of ID it must be both the paper section and photo card part, one is not sufficient in the absence of the other.
Proof of the source of funds is mandated under Money Laundering Regulations. Don’t be offended when when this is requested of you as your conveyancer will need to retain this information on file. Your Bodmin conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any funds from you into their client account and they should also ask additional queries concerning the source of funds.
We had instructed solicitors with offices in Bodmin on the Yorkshire BS solicitor approved list. They are now charging me an additional charge for dealing with the Yorkshire BS mortgage. Is this a supplemental conveyancing fee specified by Yorkshire BS?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your lawyer may charge a fee for this. The fee is not set by Yorkshire BS but by your Bodmin property lawyer. Numerous firms on the Yorkshire BS panel will quote ’dealing with mortgage’ fee and others do not.
We have agreed to purchase a house in Bodmin. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
Given that you are obtaining a mortgage with Nottingham your lawyer must comply with the conveyancing requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook stipulates minimum requirements for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties nationwide and is not limited to Bodmin.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Bodmin building society branch on numerous occasions and was told it wasn't a problem and they would lend. My Bodmin conveyancing solicitor - who is on the lender conveyancing panel- called to say that they will not lend in accordance with their published requirements. I simply don't know who is right.
Your conveyancer has to follow the CML Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I need some fast conveyancing in Bodmin as I have pressure to sign on the dotted line in less than 4 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save fees and time?
As you are are a mortgage free buyer you are at free not to have searches conducted although no lawyer would advise that you don't. With plenty of history conveyancing in Bodmin the following are examples of what can appear and therefore affect future mortgageability: Enforcement Notices, Outstanding Fees, Overdue Grants, Railway Schemes,...
It has been 3 months following my purchase conveyancing in Bodmin concluded. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I own a leasehold flat in Bodmin. Conveyancing was completed in last year. I have heard that I mustn’t allow the lease length get too short. Is this right?
Bodmin residential long term leases are for a fixed period - usually just under one hundred years when they started. However a significant appartments in Bodmin were built or converted in the 70’s80’s and so such leases now have fewer than eighty years remaining. This may seem like plenty of time however Banks, Building Societies and other mortgage institutions tend to require leases to have at least 75 years remaining to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are approaching eighty years. To maximise your property value you should be considering whether to extend your lease long before you come to sell it. There are also advantages to doing so before the lease reaches even eighty years as when the lease is below eighty years the amount to be paid to extend starts to get a lot more expensive.