My wife and I are acquiring a new build duplex in Boscombe and my conveyancer is telling me that she is duty bound to the bank to disclose incentives from the seller. I am on a tight deadline to exchange and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Finally the sale completed on my house in Boscombe last May yet the purchaser is calling daily complaining that her lawyer needs to hear from mine. What are the post completion sale legalities now that I have sold?
Following your disposal your conveyancer should forward the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Depending on the transaction, your lawyer should also send confirmation that the home loan has been paid off to the buyers lawyers. There is unlikely to be post completion procedures peculiar conveyancing in Boscombe.
My aunt pointed out to me me that in buying a property in Boscombe there could be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
There are anumerous of properties in Boscombe which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Boscombe should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
After months of negotiation I have agreed a price on an apartment in Boscombe. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £150. A few days later, the property lawyer contacted me to say that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my apartment. I had a double glazing fitted in November 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being difficult. The Boscombe solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I completed on my flat on 14 February and my personal details is yet to be registered. Any reason for this? My conveyancing solicitor in Boscombe said it would be registered inside ten days. Are properties in Boscombe uniquely lengthy to register?
There is nothing unique when it comes to conveyancing in Boscombe registration formalities. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and whether the Land registry communicate with any third parties. At present approximately three quarters of such applications are fully dealt with in less than three weeks but some can be subject to protracted hold-ups. Historically registration occurs once the new owner is living at the premises thus an expedited registration is not usually top priority but if there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.
Yesterday I discovered 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. Boscombe is the location of the property. Is there any advice you can impart?
Flying freeholds in Boscombe are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Boscombe 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 Boscombe 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 property.
Can you provide any top tips for leasehold conveyancing in Boscombe with the purpose of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Boscombe can be reduced where you get in touch lawyers as soon as your agents start advertising the property and request that they start to collate the leasehold information which will be required by the purchasers’ representatives. You believe that you know the number of years remaining on your lease but you should verify this via your solicitors. A purchaser's conveyancer will not be happy to advise their client to where the remaining number of years is below 80 years. In the circumstances it is important at an as soon as possible that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. A minority of Boscombe leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their lawyers. If you have carried out any alterations to the property would they have required Landlord’s approval? Have you, for example installed wooden flooring? Most leases in Boscombe state that internal structural alterations or installing wooden flooring necessitate a licence from the Landlord consenting to such works. Should you fail to have the consents to hand do not contact the landlord without checking with your conveyancer in advance. If you hold a share in a the Management Company, you should ensure that you are holding the original share certificate. Obtaining a duplicate share certificate is often a lengthy process and frustrates many a Boscombe home move. Where a reissued share certificate is required, do contact the company director and secretary or managing agents (if relevant) for this as soon as possible.
Leasehold Conveyancing in Boscombe - Examples of Questions you should ask before buying
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What is the the remaining lease term? This information is important as a) areas could result in problems in the block as the communal areas may begin to deteriorate if services remain unpaid b) if the leaseholders have a dispute with the running of the building you will want to have all the details How many of the leaseholders are in arrears for their service charge payments?