Me and my fiance are planning to acquire a 3 bedroom apartment in Boscombe with a mortgage. We have a Boscombe conveyancer, but the lender advise he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Boscombe conveyancer and pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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. A further alternative is for your Boscombe conveyancing lawyer to apply to be on the conveyancing panel.
Have completed on a a detached house in Boscombe , What is the estimated time for the Land Registry to register the transfer to my name? My Boscombe conveyancing solicitor has been painfully slow, so I want to be certain that my purchase is recorded.
There is nothing unique when it comes to conveyancing in Boscombe registration formalities. Rather than based on location, timescales can vary subject to the party submitting the application, whether it is in order and if the Land registry must send notices to any other parties. At present in the region of 80% of submission are fully dealt with within two weeks but some can be subject to longer delays. Historically registration occurs after the buyer has moved in to the premises thus 'speed' is not always top priority but if it is urgent that the the registration takes place urgently then you or your solicitor should speak with the land registry and explain the circumstances.
How does conveyancing in Boscombe differ for new build properties?
Most buyers of new build premises in Boscombe approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because builders in Boscombe usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Boscombe or who has acted in the same development.
What does commercial conveyancing in Boscombe cover?
Commercial conveyancing in Boscombe incorporates a broad array of services, provided by regulated solicitors, relating to business premises. For example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.
I've recently bought a leasehold house in Boscombe. Am I liable to pay service charges for periods before completion of my purchase?
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. However, 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).
Boscombe Leasehold Conveyancing - Examples of Questions you should ask before buying
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Plenty Boscombe leasehold apartments will be liable to pay a service bill for the upkeep of the block levied on behalf of the management company. If you purchase the flat you will have to meet this contribution, normally in instalments throughout the year. This could differ from a couple of hundred pounds to thousands of pounds for large purpose-built buildings. There will also be a ground rent for you to pay yearly, this is usually not a exorbitant sum, say about £25-£75 but you need to check as on occasion it could be prohibitively expensive. Does the lease include onerous restrictions?
I have today had an offer accepted on an apartment in Boscombe and the broker that we are dealing with recommended his property lawyer. She quoted £1000 excluding VAT and 3rd party costs. Does this sound like a good deal?
You should not rely on 1 quote. You should obtain like-for-like quotes for your conveyancing in Boscombe. Then pick one that you trust and just as important, is on the approved panel of the bank that you are sourcing your mortgage from.